Swap, a commerce operating system, has announced the closure of a $100 million Series C funding round, co-led by DST Global and existing investor ICONIQ, aiming to strengthen its global commerce infrastructure and expand its product suite and geographic reach.\n\nSwap’s Series C funding round, co-led by DST Global and ICONIQ, saw ICONIQ double down on its initial investment. The capital injection supports Swap’s evolution from a returns-focused platform to an AI-driven commerce infrastructure, enabling agents to transact, recommend, and process payments across merchants worldwide.\n\nThis investment will allow Swap to bolster its leadership in global commerce. The company plans to rapidly expand its product suite, which currently includes returns and cross-border solutions, by adding tax and demand planning functionalities. These enhancements are intended to accelerate Swap’s mission to transform how commerce is bought, sold, and exchanged globally, facilitate entry into new target geographies, and strengthen its payments capabilities. Swap has partnered with Ayden to enhance its expertise in the payments sector.\n\nThe expanded product offerings are designed to provide brands with real-time insights, enabling informed logistics decisions from returns to cross-border operations. This approach seeks to maximize revenue opportunities and assist customers in adapting to evolving market conditions and consumer behavior. Sam Atkinson, Founder and CEO of Swap, stated, “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, leveling up on the promise to be the go-to platform for brands to sell anywhere, anticipate intent, and convert more business.”\n\nAs Swap refines its operations, planning, and tax services, brands will gain access to a unified commerce experience. The company intends to allocate capital towards digital payments and transaction monetization, aiming for a leadership position in the purchasing revolution within commerce. This funding follows Swap’s $40 million Series B round six months prior, led by ICONIQ, which was used for expansion into the U.
S. and EU, and new regions like Australia and Canada. Swap also plans to target underserved verticals such as beauty, home goods, and consumer technology.\n\nSeth Pierrepont, General Partner at ICONIQ, commented on the investment, “As a long-time partner of Swap, we believe in their mission to become the go-to resource for commerce globally. Our new investment doubles down on our belief that in today’s world, brands need sophisticated, end-to-end tools to optimize their operations. Swap is forging that path for brands of all sizes, and we are excited to be a part of it.”\n\nSwap was founded in 2022 by Sam Atkinson and Zach Bailet. The company develops infrastructure for global commerce, offering solutions for demand forecasting, cross-border transactions, and tax management to support businesses in scaling internationally.\n\nDST Global is a global Internet investment firm with investments in rapidly growing companies. Its founder is Yuri Milner, with co-founders Saurabh Gupta, John Lindfors, Rahul Mehta, and Tom Stafford.\n\nICONIQ is a global investment firm that partners with companies defining their industries through its venture and growth investment platform. Its portfolio includes companies such as Adyen, Airbnb, Alibaba, and Zoom.
