Swap, a London, UK-based e-commerce operating system for DTC brands, has secured a $9 million Series A funding.
Investors
The round was led by QED Investors, with participation from Cherry Ventures, 9900 Capital, 2100 Ventures, and Klaviyo's Co-Founder, Ed Hallen.
QED Investors is a boutique venture capital firm based in Alexandria, VA, founded in 2007. Focused on investing in early-stage disruptive financial services companies in the U.S., U.K., Latin America, and Southeast Asia, QED Investors leverages its partners' entrepreneurial and operational experience to help companies achieve breakthrough growth.
Swap Use of Funds
The investment will fuel the launch of Swap Global, enabling seamless international expansion for brands through DDP shipping, automated tax remittance, and express customs clearance. Additionally, the capital will support the growth of the marketing and sales teams as Swap expands across the UK, Europe, and the US.
About Swap
Founded in 2022 by Sam Atkinson and Zach Bailet, Swap is an e-commerce operating system that manages all operations for direct-to-consumer brands. The company aims to simplify the tech stack for DTC brands by addressing pain points in their operations journey, including shipping, tracking, package protection, returns, and cross-border operations. Swap partners with hundreds of DTC brands, including PANGAIA, Retrofete, Hill House Home, Drake’s, Percival, Nadine Merabi, and more.
Funding Details
Company: Swap Commerce Ltd
Raised: $9.0M
Round: Series A
Funding Month: April 2024
Lead Investors: QED Investors
Additional Investors: Cherry Ventures, 9900 Capital, 2100 Ventures, Ed Hallen
Company Website: https://www.swap-commerce.com/
Software Category: Ecommerce
Source: https://www.businesswire.com/news/home/20240430271512/en/