Swap, a New York–based AI-driven, end-to-end commerce operating system, has raised $100 million in Series C funding.
Investors
The round was co-led by DST Global and ICONIQ, with ICONIQ doubling down on its prior investment.
DST Global is a growth equity and venture capital firm specializing in late-stage investments in high-growth internet and technology companies. Founded in 2009, DST Global has backed several prominent technology platforms.
ICONIQ Capital is a U.S.-based global investment management and family office firm that operates across wealth advisory, private equity, venture capital, real estate, and philanthropic services. The firm manages approximately $95.1 billion in assets and operates across multiple domains, including venture capital (ICONIQ Growth), private equity, real estate, and philanthropy (ICONIQ Impact).
Swap Use of Funds
The company will use the funds to expand Swap’s product suite, enter new geographies, enhance payments infrastructure, and advance AI-driven commerce capabilities, including tax, demand planning, and cross-border solutions.
About Swap
Founded in 2022 by Sam Atkinson and Zach Bailet, Swap is a commerce operating system that enables brands to manage and scale global commerce through a unified, end-to-end platform. Initially focused on returns, the company has expanded into cross-border commerce, tax, demand planning, and digital payments, providing brands with real-time insights to optimize logistics, operations, and revenue generation. Headquartered in New York, Swap builds infrastructure to enable global commerce.
Funding Details
Company: Swap
Raised: $100.0M
Round: Series C
Funding Date: January 2026
Lead Investors: DST Global, ICONIQ
Additional Investors:
Company Website: https://www.swap-commerce.com/
Software Category: Commerce Operating System / Global Commerce Platform
Source: https://www.businesswire.com/news/home/20260107934395/en/