Shopify competitor Swap raises $100M six months after raising $40M

VC firms DST Global and Iconiq are piling into the London- and New York-based e-commerce startup Swap Commerce. On Wednesday the startup announced it raised a caller $100 cardinal circular conscionable six months aft raising a $40 cardinal Series B circular led by Iconiq.

Founded successful 2022, Swap Commerce offers an AI-powered level that helps brands physique web storefronts and grip cross-border transactions, inventory management, and returns. The level has go fashionable with luxury covering brands, and the institution peculiarly targets companies looking to merchantability their goods globally. The institution declined to remark connected its latest valuation.

The fast, important backing from specified salient VCs marks Swap arsenic a startup to watch, though Swap faces plentifulness of competition, including e-commerce behemoth Shopify.