Swap, a commerce operating system focused on cross-border and AI-enabled transactions, has secured $100 million in a Series C funding round co-led by DST Global and ICONIQ, with ICONIQ doubling down on its prior investment. The raise comes just six months after the company closed a $40 million Series B to support expansion across the U.S., Europe, and new regions, including Australia and Canada.
Founded in 2022, Swap initially focused on returns before expanding into cross-border commerce and, more recently, tax and demand planning. Its infrastructure enables brands to manage logistics, payments, and forecasting using real-time data, supporting international selling and operational decision-making. The company has also partnered with Adyen to enhance its payment capabilities as it expands its product suite.
Swap plans to use the new capital to expand into additional geographies, invest further in digital payments, and monetize transactions while entering sectors such as beauty, home goods, and consumer technology. “We have built an existing fleet of products that enable any brand to scale globally,” said Sam Atkinson, Founder and CEO of Swap, adding that the company aims to help brands “sell anywhere, anticipate intent, and convert more business.” ICONIQ General Partner Seth Pierrepont added, “Brands need sophisticated, end-to-end tools to optimize their operations,” noting that Swap is addressing that demand as commerce becomes increasingly data-driven and international.
