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

Venture capital firms DST Global and Iconiq are piling into London and New York-based e-commerce startup Swap Commerce. Wednesday startup Announce It has raised a new $100 million round just six months after raising a $40 million Series B round led by Iconiq.

Founded in 2022, Swap trade It offers an AI-powered platform that helps brands build online storefronts, handle cross-border transactions, and manage inventory and returns. The platform has become popular with luxury clothing brands, and the company specifically targets companies looking to sell their goods globally. The company declined to comment on its latest evaluation.

The rapid and significant funding from these prominent venture capital firms makes Swap a startup to watch, although Swap faces a lot of competition, including e-commerce giant Shopify.