London- and New York-based e-commerce startup Swap Commerce has secured a $100 million funding round from venture capital firms DST Global and Iconiq. This substantial investment comes just six months after Swap raised $40 million in a Series B round led by Iconiq. Swap Commerce, established in 2022, offers an AI-powered platform designed to assist brands in creating web storefronts, managing cross-border transactions, inventory, and returns. The startup’s platform is popular among luxury clothing brands, as it focuses on enabling companies to sell globally. While Swap Commerce has not disclosed its latest valuation, the rapid growth in funding positions it as a notable player in the e-commerce landscape. However, the startup faces stiff competition, notably from industry giant Shopify.
Source: TechCrunch