Swapin
4 known investors
Swapin provides a crypto payment gateway that lets investment platforms and financial apps accept crypto deposits from clients via a branded payment link or API, instantly converting the cryptocurrency into fiat and settling it to the business's bank account. It targets financial and investment platforms and operates as an EU-licensed payment processor.
Also known as Piixpay · Ungaro LLC
Founders & leadership
Investors · 4
Also in the syndicate · 3
Company profile
researched Aug 2026Swapin is an Estonian crypto payment processing provider that connects cryptocurrency transactions to conventional bank accounts. Businesses can accept Bitcoin, Ethereum and other cryptocurrencies and receive the invoiced amount in EUR, GBP or USD in their bank account; companies can also buy crypto from a bank account, pay business invoices with crypto, and withdraw crypto to fiat, with transactions processed under a named IBAN in the business's name. A widget allows platforms to embed crypto buying and selling for their own users.
Product names include SwapinCollect (payment links), SwapinCheckout (an e-commerce widget with plug-and-play support for platforms such as WooCommerce), SwapinPay and SwapinGet for individual crypto-to-fiat payments and recurring bill payments, and SwapinBuy, an on-ramp launched in 2023. Earlier B2C and B2B tools were branded Instapay, Instafill, E-Com and CoinCollector. The company operates under license FVT000088 issued by the Estonian FIU, states it is audited by Grant Thornton, and describes memberships in the Estonian Chamber of Commerce and Industry, the Estonian Cryptocurrency Association and the Swiss Crypto Valley Association.
The business is operated by Ungaro LLC (registration number 14562753), based at Värvi 5, Laki business center, Tallinn, Estonia. As of July 2026 a third-party business data provider estimated roughly 19 employees and annual revenue below $1M.
Founding story
Founder and CEO Evald-Hannes Kree identified a gap between digital assets and traditional finance, and recounts that securing a partner bank was a challenge in the early days of his crypto career. The company was established in 2017 and previously operated under the Piixpay brand before rebranding to Swapin.
Business model
Swapin sells crypto-to-fiat and fiat-to-crypto payment processing to merchants, platforms and individuals, ranging from hosted payment links to fully customizable API and widget integrations, with settlement into the customer's bank account in EUR, GBP or USD.
Sources indicate merchants pay transaction fees on crypto payments processed through Swapin; a client in business aviation cites low transaction fees as a reason for selecting the service.
Traction
Swapin reports partnerships and integrations with merchants across multiple sectors, and lists partners including Kraken, StartupYard, IBAN.com, Veriff, LexisNexis, RE/MAX, E-Jewels and Aufort Gold, plus 2025 partnerships with AeroJet Me, Intelli.Jet, Yolo Squash, HBL and Masters of Motoring. It received the MasterCard FINITIV People's Choice Award in spring 2023. A third-party data provider estimates annual revenue below $1M and about 19 employees as of July 2026.
Latest developments
Through 2025 Swapin announced crypto payment partnerships with HBL (March 2025), Masters of Motoring (March 2025), Yolo Squash (July 2025), Intelli.Jet (October 2025) and AeroJet Me (October 2025), extending its focus on aviation, luxury, automotive and sports verticals.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Swapin positions itself as a licensed EU crypto-to-fiat payment provider with over seven years of industry experience and describes itself as a pioneer in crypto-bank transactions; one customer states it selected Swapin over the alternative CoinGate on integration, cost and interface grounds.
The company emphasizes EU licensing (FVT000088) and regulatory compliance, external audit by Grant Thornton, removal of volatility and crypto custody/accounting burden from merchants, settlement of the exact invoiced amount in fiat, named IBAN processing, and support for high transaction volumes.
Technology
Crypto payment infrastructure supporting major cryptocurrencies with instant 24/7 cross-border settlement, payment links, an embeddable checkout widget compatible with e-commerce platforms such as WooCommerce, customizable APIs, and named IBAN processing. A virtual IBAN implementation was under development as of 2022. Third-party data lists web technologies including Atlassian, oEmbed, Google Fonts API, Font Awesome, Lua, Cloudflare Rocket Loader, Polylang and Sitelinks Search Box.
Go-to-market
Direct sales and onboarding via an online sign-up followed by an onboarding call and business verification, combined with partnership announcements and co-marketing with merchants in aviation, automotive, luxury and sports sectors, plus case studies and a company blog.
Businesses and platforms that want to accept cryptocurrency or convert it to fiat, plus individuals. Referenced customers span car dealerships and classic car sales, private jet charter and business aviation, luxury goods, real estate, jewelry retail, investment and Web3 platforms, marketing agencies, gaming and motorsport/sports events.
Geography
Headquartered in Tallinn, Estonia, with EU licensing and SEPA coverage; settlements in EUR, GBP and USD. A 2022 roadmap targeted Germany, France and Nordic countries, and partner announcements reference London-based and other European merchants. A third-party directory reports employees across Europe, Asia and North America.
History
Established in 2017 and formerly known as Piixpay, the company rebranded as Swapin and announced a €1.69M funding round in April 2022 alongside the addition of several crypto and finance figures to its advisory board, with a roadmap covering a virtual IBAN, an Electronic Money Institution license application, website localization, a multilingual mobile app and expansion focus on Germany, France and the Nordics. It upgraded its platform for SEPA users in September 2023 and launched the SwapinBuy on-ramp in October 2023, followed by a series of merchant partnerships in 2025.
Risks & controversies
On the third-party review platform Reviews.io, swapin.com holds a 1.2 rating from 13 reviews with 8% of reviewers recommending it, though the listed reviews are marked unverified and several appear unrelated to the company. As of 2022 the company was still working to obtain an Electronic Money Institution license, and its operations depend on its Estonian FIU virtual asset license FVT000088.
Compiled by commissioned research from 8 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 · 9
launches, deals, and filingsAviation company Intelli.Jet partnered with Swapin to offer crypto payment methods.
AeroJet Me, a private jet charter and luxury air travel provider, launched cryptocurrency payment options in partnership with Swapin.
Yolo Squash partnered with Swapin to accept crypto payments in the sports sector.
The Masters of Motoring festival announced a partnership with Swapin to enable cryptocurrency payments.
Swapin unveiled an upgrade to its crypto-to-bank payment platform aimed at businesses and individuals in SEPA, announced from Tallinn, Estonia.
Swapin was recognized with the MasterCard FINITIV People's Choice Award in Spring 2023.
Swapin, previously operating as Piixpay, announced it had raised a collective €1.69M, with participation from industry figures including Dmitry Pruglo, Marek Pärtel and Toomas Römer, several of whom joined the advisory board. A later company blog post referred to the round as €1.68M.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Swapinswapin.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Swapin do?
- Estonian, EU-licensed crypto payment provider letting businesses accept crypto and settle in EUR, GBP or USD to a bank account.
- Who are Swapin's investors?
- Swapin's investors include Yolo Investments.