# Swap Commerce

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swap-commerce

- Industry: Software
- Headquarters: London, UK
- Website: www.swap-commerce.com
- Total disclosed funding: $159M
- Latest round: Series C (Dec 5, 2025)
- Investors on record: 7

## About

Based in London, UK, and founded in 2023 by co-founders Sam Atkinson and Zach Bailet, Swap Commerce Limited operates as a provider of an e-commerce platform that offers various services, such as inventory management, tracking, and shipping, to help businesses grow in the online market.In January 2026, Swap Commerce Ltd raised USD 100 million in series C funding co-led by returning investor ICONIQ Capital and new investor DST Global, with participation from returning investors Cherry Ventures, QED Investors, Portfolio Ventures, BNVT Capital. Other unspecified investors also participated in the round. The company's client base includes Nadine Merabi, Galvan London, LullaBellz, Motel Rocks, Hill House Home, Printify, and Serge Denimes. The company provides a logistics management platform that offers e-commerce operating system solutions to brands selling directly to consumers. The platform's services include shipping, tracking, package protection, global operations management, inventory management, and returns management. Moreover, the firm also provides referral services. Additionally, the firm integrates with various apps like Peoplevox, Census, Klaviyo, USPS, Stripe, UPS, Shopify Plus, Shopify, Royal Mail, Ship Hero, Gorgias, FedEx, DHL, Post Nord, Easypost, and Brightpearl. The company plans to use its proceeds from April 2024 funding to launch Swap Global into new markets with DDP shipping, automated tax remittance, and express customs clearance, as well as to broaden its footprint in the UK, Europe, and the U.S. In January 2026, Swap Commerce Ltd raised USD 100 million in series C funding co-led by returning investor ICONIQ Capital and new investor DST Global, with participation from returning investors Cherry Ventures, QED Investors, Portfolio Ventures, BNVT Capital. Other unspecified investors also participated in the round.


The company plans to use the January 2026 funding to expand its AI-powered commerce operating system by enhancing payments, tax, and demand planning capabilities and advancing agentic commerce through AI Labs.

## Funding rounds

- Series C, Dec 5, 2025, $101M — DST Global, QED Investors, ICONIQ Capital, Cherry Ventures, Portfolio Ventures, BNVT Capital
- Series B, Jan 3, 2025, $40M — QED Investors, ICONIQ Capital, Cherry Ventures, BNVT Capital
- Series A, Jul 22, 2024, $6M — BNVT Capital
- Series A, Jan 18, 2024, $9M — QED Investors, Cherry Ventures, 2100 Ventures, BNVT Capital
- Seed, Feb 3, 2023, $2.7M — Cherry Ventures

## Investors

- Cherry Ventures (https://capitalatlas.ai/funds/cherry-ventures) — Seed, Series A, Series B, Series C
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A, Series B, Series C
- 2100 Ventures (https://capitalatlas.ai/funds/2100-ventures) — Series A
- BNVT Capital (https://capitalatlas.ai/funds/bnvt-capital) — Series A, Series B, Series C
- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Series B, Series C
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series C
- Portfolio Ventures (https://capitalatlas.ai/funds/portfolio-ventures) — Series C