Overview
- DST Global and ICONIQ co-led the round, with ICONIQ increasing its prior backing after participating in Swap’s 2025 Series B.
- Swap positions its platform as a single OS for returns, cross‑border duties and taxes, inventory, fulfillment and payments, aiming to replace multi‑vendor stacks.
- The company reports serving more than 600 brands and deeper Shopify integration, framing the operations layer beneath storefronts as the next infrastructure market.
- Swap cites product capabilities such as locking in import costs, automating tax refunds on returns, forecasting demand and offering virtual fitting rooms, with company‑reported gains like 12% more cash on hand and up to 111% sales growth for some users.
- Fresh capital will fund expansion into new geographies and verticals including beauty, home goods and consumer tech, alongside a payments push that includes a partnership with Ayden.