# SWAP Meios dePagamentos Ltda.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swap-meios-depagamentos-ltda

- Industry: Financial Services
- Headquarters: Sao Paulo, Brazil
- Website: www.swap.financial
- Total disclosed funding: $28M
- Latest round: Series A (Jan 13, 2022)
- Investors on record: 12

## About

Founded in 2018 by CPO Ury Rappaport, CEO Douglas Storf, and CTO Alexandre Takinami, and based in São Paulo, Brazil, SWAP Meios dePagamentos Ltda (SWAP) is a payment solution integrator that creates digital wallets and provides banking infrastructure for startups and fintech via a set of APIs. In 2020, the company received BRL 17 million in Seed funding led by ONEVC and eight other venture capital funds such as Abseed Ventures, Canary, Global Founders, and SOMA Capital among other investors. Swap’s clients include Leadr, XP’s social investment network, and Clickbus among others. 

The company allows food delivery, ride-sharing, or benefits company to create their wallets, cards, and digital banks. Swap offers Multiflex, a banking-as-a-service (BaaS) solution that offers multi-balances, a single MasterCard with benefits of VR, and VA, a white-label app, and external authorization with autonomy to manage the portfolio. Multiflex also provides tailored solutions, transactional security, and no bureaucracy. Additionally, Swap offers Open Banking, a facility for businesses to provide their clients with pocket accounts, bills of exchange, bank transfers, and PIX and Instant Payments. 

Swap’s monetization model charges a license fee to the smaller customer for using the app plus a monthly fee for an active account, which is about 70% of the company's business as of 2021. Additionally, the firm charges a percentage of the total volume transacted on the system for large customers. 

The company plans on utilizing funds raised in 2020 to finance Swap’s operations in the card processing market and increase the development team.

## Funding rounds

- Series A, Jan 13, 2022 — FJ Labs
- Series A, Oct 28, 2021, $25M — Tiger Global Management, DST Global, Endeavor Catalyst, Global Founders Capital, Canary, ONEVC, Flourish Ventures
- Seed, Nov 17, 2020 — FJ Labs
- Seed, Jun 22, 2020, $3.3M — Global Founders Capital, Soma Capital Management, Canary, Hustle Fund, ABSeed, ONEVC, Flourish Ventures, Rhombuz VC
- Seed, Mar 18, 2019 — Canary

## Investors

- Canary (https://capitalatlas.ai/funds/canary) — Seed, Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Seed
- ABSeed (https://capitalatlas.ai/funds/abseed) — Seed
- ONEVC (https://capitalatlas.ai/funds/onevc) — Seed, Series A
- Flourish Ventures (https://capitalatlas.ai/funds/flourish-ventures) — Seed, Series A
- Rhombuz VC (https://capitalatlas.ai/funds/rhombuz-vc) — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Seed, Series A
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series A
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series A
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series A