VC firm DST Global and Iconiq are participating in London and New York e-commerce startup Swap Commerce. It’s early Wednesday declare it raised a new $100 million round just six months after raising $40 million Series B round led by Iconiq.
Founded in 2022, Swap Commerce offers an AI-powered platform that helps brands create web storefronts and handle cross-border transactions, inventory management, and returns. The platform has become popular with luxury fashion brands, and the company is mainly targeting companies that want to sell their goods worldwide. The company declined to comment on its latest valuation.
The quick and massive funding from the prominent VC marks Swap as a startup to watch, even though Swap faces a lot of competition, including e-commerce giant Shopify.