Swap Secures $100 Million Series C to Power AI-Driven Global Commerce

Scaling Global Commerce with Agentic Infrastructure

Swap, the commerce operating system, has secured $100 million in Series C funding to accelerate its mission of building an end-to-end global commerce platform. The round was co-led by DST Global and ICONIQ, coming just six months after a $40 million Series B investment. This capital injection solidifies the New York-based company's role as a primary infrastructure provider for modern retail brands seeking to scale internationally.

The new capital will be used to develop an agentic commerce infrastructure where AI agents autonomously transact, recommend, and process payments across global merchants. Swap is moving beyond its origins in returns management to provide tools for demand planning and automated tax compliance. These AI-driven capabilities allow brands to bridge the gap between consumer intent and final purchase in an AI-native environment.

Beyond technology, the funds will support Swap's expansion into Australia and Canada while deepening its footprint in the U.S. and EU. The company also intends to enter new industry verticals including beauty, home goods, and consumer technology. These sectors present unique logistical challenges that Swap plans to address through its integrated suite of services designed for high-volume retail.

To bolster its financial capabilities, Swap has partnered with Adyen to enhance its expertise in the payments space. This partnership allows the company to monetize transactions directly and help brands make better logistics decisions based on real-time data. The goal is to maximize revenue while helping customers adapt to evolving consumer behavior and shifting market conditions.

"Building upon this foundation of global commerce solutions, we will continue to help brands reach their full potential," says Sam Atkinson, Founder and CEO of Swap. Seth Pierrepont, General Partner at ICONIQ, noted that brands today require sophisticated tools to optimize operations in a complex world. The investment reflects a deep belief in Swap's ability to serve as a versatile resource for global retail.