# SwapIt

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swapit

- Industry: Retail
- Headquarters: Hong Kong, Hong Kong SAR - China
- Website: www.swapit.la
- Latest round: Seed (Dec 10, 2015)
- Investors on record: 1

## About

SwapIt is a hyper-local marketplace platform that facilitates the buying, selling, and swapping of items between users in real-time, enhancing community interactions through a user-friendly mobile application.Founded in 2015, SwapIt operates as a marketplace enabling local users to trade items. The company has not reported any significant pivots in its business strategy. Headquartered in Central, Hong Kong, SwapIt was established by Patrick Kosiol, who also serves as the CEO. SwapIt has completed a total of 2 deals, with its most recent deal occurring on February 22, 2016, when it raised an undisclosed amount of SEED funding from unspecified investors.SwapIt offers a hyper-local marketplace platform designed for the buying, selling, and swapping of both used and new items. Its mobile application allows users to list items quickly and receive real-time notifications about listings and messages, fostering instant connections among users. Initially launched in Hong Kong, the platform has expanded to several international markets, including the United States, the Philippines, India, and Indonesia, serving over 220,000 active traders globally.SwapIt operates on a transaction-based revenue model, facilitating peer-to-peer sales for users to buy, sell, and trade items. The platform supports cash transactions occurring in person, simplifying the exchange process. Revenue is generated through the volume of transactions on the platform, which includes various items like fashion, electronics, and jewelry. The introduction of Swapit Coin aims to enhance digital transaction capabilities, with additional marketing strategies to bolster user engagement within the marketplace.Looking ahead, SwapIt aims to develop new features and products to enhance user experience, with a focus on expanding its marketplace functionalities. Plans for growth include entering new markets, specifically targeting regions with high trading potential by the end of 2017. The funds secured from the SEED funding round in February 2016 will be utilized to support these expansion initiatives and improve platform capabilities.

## Funding rounds

- Seed, Dec 10, 2015 — Aria Ventures

## Investors

- Aria Ventures (https://capitalatlas.ai/funds/aria-ventures) — Seed