E-commerce operating startup Swap raises $100M

London-headquartered e-commerce operating startup Swap has raised $100m in a Series C funding round.

The round was co-led by existing investor Iconiq and DST Global. The Series C follows around nine months after Swap’s Series B round, when it raised $40m led by Iconiq. Swap has now raised $149m in total.

Founded in 2022, Swap provides a platform for e-commerce brands to manage their logistics. Instead of brands relying on multiple providers for tasks like cross-border shipping, order tracking, returns, tax, and inventory forecasting, Swap provides them all in one operating system.

Sam Atkinson, founder, CEO, Swap, said: "We have built an existing fleet of products that enable any brand to scale globally.

"Building upon this foundation of global commerce solutions, we will continue to help brands reach their full potential, levelling up on the promise to be the go-to platform for brands to sell anywhere, anticipate intent, and convert more business." 

Swap, which struck a partnership with Adyen last year, said it will use the funds to bolster its payment capability, investing in digital payments, and targeting new markets. 

The London-headquartered startup also has offices in the US, Israel and the Netherlands, and is targeting expanding into markets across Europe and North America.

Its clients include retailers Manors Golf, Never Fully Dressed and Surplus.

Swap has also been integrating artificial intelligence into its platform, in areas such as cross-border tax filing and return processing.