Finovate Blog

• Swap raised $40 million in Series B funding, boosting its total raised to $49 million.
• ICONIQ Growth led the round, which will help Swap expand into the US, EU, Australia, and Canada while launching new products like Swap Inventory to optimize restocking and avoid inventory issues.
• Swap’s unified platform will become even more essential to ecommerce companies as trade disruptions and rising shipping costs threaten cross-border commerce.

Ecommerce inventory management platform Swap received a $40 million investment this week. The Series B round was led by ICONIQ Growth and saw participation from previous investors Cherry Ventures, QED Investors, and 9900 Capital. The investment brings Swap’s total funding to $49 million since it was founded in 2021.

Swap manages a global network that helps ecommerce companies with shipping, returns, inventory management, and cross-border commerce. By combining everything companies need into one place, Swap offers an all-in-one ecommerce operating system that helps companies simplify their operations, save money, and see all the metrics they need on a single dashboard.

Swap will use today’s funds to accelerate its expansion into the US and EU, and kickstart operations in new regions, including Australia and Canada. The company also plans to expand into new verticals such as beauty, home goods, and consumer technology; grow its team; and launch new products, including Swap Inventory. Swap Inventory provides customers with pricing modeling and AI-driven recommendations around inventory restocking and replenishment to avoid overstocks and stockouts.

“From the beginning, we’ve set out to create a new category that is a platform-level solution across all of a brand’s operations,” said Swap Co-Founder and CEO Sam Atkinson. “This funding cements us as the only e-commerce operating system that can enable inventory solutions, cross-border growth, returns management, and shipping and logistics in a way genuinely tailored to a brand’s needs.”

Swap’s funding comes at a time when cross-border commerce is vulnerable to disruptions from the emerging trade war, shifting global policies, and rising shipping costs. For ecommerce companies, streamlining logistics and maintaining efficient inventory management across multiple geographies is critical, especially as brands look to scale internationally.

By offering an end-to-end operating system, Swap is positioning itself to help brands navigate these challenges. By combining inventory intelligence, flexible shipping options, and seamless returns management, Swap helps ecommerce businesses adapt quickly to volatile global supply chain pressures.

“As cross-border commerce becomes increasingly complex, we have seen Swap emerge as a valuable partner for direct-to-consumer brands by unifying fragmented global e-commerce operations into a cohesive platform,” said ICONIQ Growth General Partner Seth Pierrepont. “We believe the company is well positioned to be a leading software enabler of global e-commerce and are excited to support them on this journey.”

Photo by Tiger Lily

• Stablecoin payments provider MANSA has secured $10 million in funding.
• Of today’s investment, $3 million in pre-seed funds come from Tether and Polymorphic Capital, and an additional $7 million are from institutional investors.
• MANSA will use the funds to expand into Latin America and Southeast Asia.

Stablecoin-based payments solutions company MANSA has raised $10 million to help payment companies alleviate global liquidity challenges.

The $10 million consists of $3 million in pre-seed funds co-led by Tether and Polymorphic Capital with participation from Faculty Group, Octerra Capital, and Trive Digital. The additional $7 million comes from institutions, including corporate investors, quantitative funds, and alternative investment firms.

“Securing $10 million in pre-seed and liquidity funding marks a significant milestone in our mission to transform the way money moves. By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions — making payments faster, cheaper, and more reliable worldwide,” said MANSA CEO and Co-Founder Mouloukou Sanoh. “This funding accelerates our global expansion, enabling us to empower payment companies with seamless, real-time settlement infrastructure and drive the future of payments.”

MANSA will use the funds to support its expansion into Latin America and Southeast Asia, regions where liquidity challenges hinder cross-border transactions. The company plans to scale its liquidity infrastructure and develop strategic partnerships by expanding the reach of its cross-border payments liquidity solutions.

Co-founded by Mouloukou Sanoh and Nkiru Uwaje, MANSA offers stablecoin-powered liquidity solutions that help reduce prefunding requirements and enable instant settlement across markets. The company helps optimize treasury management by ensuring that liquid funds are always available when and where they are needed.

“MANSA’s vision for addressing liquidity challenges in cross-border payments aligns with our mission to create a more efficient and inclusive financial system. By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets. We are proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure,” said Tether CEO Paolo Ardoino.

MANSA launched in August of 2024 and has since focused on building partnerships with major payment companies across Africa, Asia, and South America. These partnerships have resulted in MANSA processing $27 million in transaction volume, with nearly $11 million of that on-chain transaction volume occurring in January.

Photo by Magda Ehlers