Commerce is entering a new era – intelligent, automated and truly global. In a world impacted by AI, brands no longer just need tools to sell; they need infrastructure that helps them think, act, and adapt at scale. Swap has been at the forefront of this shift, helping brands reimagine the commerce process through automation, data, and now, intelligence.
Today, we’re proud to continue our partnership with Swap as they announce their $100 million Series C, co-led by ICONIQ.
This milestone reflects what we’ve seen firsthand: a team building with urgency and thoughtfulness, a product that continues to compound in value, and a model that lets brands scale without complexity.
Over the past year, Swap has evolved from a leader in cross-border and returns management platform into a complete operating system for commerce. By expanding its capabilities across payments, tax, and demand planning, Swap now seeks to unify the entire commerce journey through its differentiated, end-to-end platform. The company has also formed strategic partnerships with commerce leaders like Avalara and Adyen to deepen its product foundation and broaden its global reach.
What makes Swap’s trajectory especially exciting is the groundwork they’ve laid for the future: agentic commerce. Through their AI Labs, a space where brands can test and experiment with the tools firsthand, Swap is developing infrastructure that enables intelligent agents to act on behalf of brands – forecasting demand, managing universal product catalogs, and automating decisions across markets. It’s a vision of commerce that moves beyond transactions toward autonomy, helping brands themselves anticipate intent, make real-time decisions, and meet customers wherever they are.
We first partnered with Swap because we saw a founding team with exceptional focus, insight, and ambition. Since then, they’ve continued to execute with strength and velocity, expanding into new verticals including beauty, home goods, and consumer technology; continuing to win large, fast-growing brands across NA, EU, and APAC; and strengthening their leadership team to deliver on an increasingly global opportunity.
We’re proud to continue our partnership with Swap, as they strive to build an intelligent backbone of global commerce, empowering brands to scale anywhere with clarity, agility, and confidence.
Published:
January 7, 2026
