Swap
Founded 2022 · 371 employees on LinkedIn · 5 known investors
Swap offers a cross-border ecommerce platform that centralizes international pricing, landed cost calculation, duties, taxes, and compliance while letting brands remain the merchant of record. It serves online retailers expanding into international markets, handling DDP shipping through their existing warehouses and 3PL partners.
Also known as Swap Commerce
Founders & leadership
Swap was founded in 2022 by Sam Atkinson.
Investors · 5
Company profile
researched Aug 2026Swap (also referred to as Swap Commerce) is an e-commerce technology company that provides an AI-driven commerce operating system for consumer brands selling internationally. Founded in 2022 and led by co-founder and CEO Sam Atkinson alongside co-founder Zach Bailet, the company began as a returns-management provider and has since broadened into cross-border logistics, order tracking, tax and duty compliance, inventory and demand planning, storefront building and payments, delivered through a single platform rather than a set of separate vendor integrations.
The platform applies artificial intelligence to areas including cross-border tax filing, returns processing, demand forecasting and cross-border pricing, and markets features such as Delivered Duty Paid guarantees and real-time inventory visibility. Reported customers include Manors Golf, Never Fully Dressed and Surplus, and the company is described as serving over 600 businesses primarily in fashion, beauty, home goods and consumer technology, with a team of roughly 120 people.
In January 2026 Swap announced a $100 million Series C co-led by DST Global and ICONIQ, about six months after a $40 million Series B led by ICONIQ, with proceeds directed at scaling its US business, deepening payments infrastructure and entering additional geographies.
Founding story
Swap was founded by Sam Atkinson, who serves as CEO, and Zach Bailet. Sources date the founding to 2022, with one source citing 2021. The company's initial product was returns management for online brands.
Business model
Swap sells software to consumer brands as a single integrated platform replacing multiple point vendors for returns, cross-border shipping, order tracking, tax handling, duties, inventory forecasting and payments. Following its Adyen partnership, the company is also building payments infrastructure with the stated aim of monetizing transactions processed through its merchants.
Revenue comes from its software platform for brands, with the company stating an intent to monetize transactions through expanded digital payments capabilities built in partnership with Adyen.
Traction
Swap is reported to power over 600 global businesses as of 2026, with a team of about 120 employees and approximately $149 million raised in total funding, including $140 million across its two most recent rounds in under a year.
Latest developments
On January 7, 2026, Swap announced a $100 million Series C co-led by DST Global and ICONIQ, with ICONIQ increasing its investment, roughly six months after a $40 million Series B. The company said the capital will scale its US business, deepen product development, strengthen digital payments infrastructure and support entry into new geographic markets. Valuation was not disclosed.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Swap is positioned as a commerce infrastructure and operating-system provider for cross-border brands, competing with established e-commerce platforms including Shopify. Its rapid consecutive raises from DST Global and ICONIQ have been cited as evidence of investor interest in commerce infrastructure addressing returns costs, cross-border fulfillment and tax compliance.
Swap positions its product as a single, AI-native commerce operating system that consolidates returns, cross-border logistics, tax and duty compliance, demand planning and payments in one dashboard, in place of the multiple separate vendors brands typically use when selling across borders. Reported differentiators include built-in Delivered Duty Paid guarantees, real-time tax and duty capabilities, and automated returns designed to retain revenue.
Technology
The platform is described as an AI-powered, "agentic" commerce operating system that unifies global compliance, returns, inventory and payments in a single system. AI is applied to cross-border tax filing, returns processing, demand forecasting, cross-border pricing, duties and logistics, and the company says it is building AI-driven infrastructure to automate transactions, recommendations and payment processing across merchants.
Go-to-market
Swap sells directly to online brands and retailers, with reported plans to invest in US-based sales and customer support teams and to expand from its initial fashion and luxury clothing base into beauty, home goods and consumer technology verticals. It also uses strategic partnerships, such as its tie-up with Adyen, to broaden its commerce and payments offering.
Direct-to-consumer and retail brands selling internationally, with initial traction among luxury and fashion clothing brands and stated expansion into beauty, home goods and consumer technology. Named customers include Manors Golf, Never Fully Dressed and Surplus.
Geography
Swap is headquartered in New York and is described as a London- and New York-based company, with offices in the UK, the US, Israel and the Netherlands. It has expanded into Europe, Canada and Australia and is targeting further growth across Europe and North America, with the United States as the primary focus of its Series C expansion.
History
Swap was founded in 2022 (one source states 2021) by Sam Atkinson and Zach Bailet and initially provided returns management for e-commerce brands. It subsequently added cross-border commerce tools and then tax compliance and demand-planning capabilities, repositioning as a broader commerce operating system. It raised a $40m Series B led by ICONIQ, followed roughly six to ten months later by a $100m Series C co-led by DST Global and ICONIQ in January 2026, bringing reported total funding to about $149m.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsSwap said it would use its Series C to scale its US business, invest in US-based sales, customer support and engineering, target beauty, home goods and consumer technology verticals, and continue expanding into new geographies after earlier moves into Europe, Canada and Australia.
Swap partnered with Adyen to strengthen its payments capabilities as it moves to monetize transactions and offer more integrated checkout tools to brands.
After starting as a returns-management provider, Swap added cross-border commerce tools and later introduced tax compliance and demand-planning capabilities.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 5
primary sources listed
- Shopify competitor Swap raises $100M six months after raising $40M | TechCrunchtechcrunch.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Swap do?
- Swap is an AI-driven commerce operating system for brands, unifying returns, cross-border logistics, tax, inventory and payments.
- Who founded Swap?
- Swap was founded by Sam Atkinson in 2022.
- Who are Swap's investors?
- Swap's investors include Cherry Ventures, ICONIQ, Portfolio Ventures, QED Investors, 9Yards Capital.