Brazil · 
Who invested in SWAP?
SWAP's investors include ICONIQ Capital, QED Investors, Cherry Ventures, FJ Labs and Hustle Fund, and 6 more on record.
20222023202420252026
$25MSeries A$40MSeries B$100MSeries C
Brazil · Series C startup
Who invested in SWAP
3 rounds we have observed, with the 11 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.
Raised 10 months ago
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Funding summaryUpdated 5 Nov 2026
$165Mraised across 3 rounds since 2021, from 3 sources
$25MSeries A$40MSeries B$100MSeries C
- Latest round
- Series C, $100MJan 2026
- Step-upi
- 2.5×
- Investors
- 11 (1 led)
The funding story
Each circle is a round, placed by date and sized by amount. The line above is the running total.
- First round
- Series A, $25M Oct 2021
- Biggest round
- $100M Series C · Jan 2026
- Usual gap between rounds
- 3.4 years the median of 2
The rounds
- Jan 2026Series C$100M2 new3 returning
Source recorded
- Mar 2025Series B$40M4 new
Reported by Silicon Canals
- Oct 2021
Who was in which round
The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.
Series A2021Series B2025Series C2026ICONIQ CapitalL
QED Investors
Cherry Ventures
FJ Labs
Hustle Fund
IQ Capital
Canary
Flourish Ventures
Portfolio Ventures
ONEVC
QED InvestorsCherry VenturesFJ LabsHustle FundIQ CapitalCanaryFlourish VenturesPortfolio VenturesONEVCEveryone who backed them
ICONIQ CapitalFamily office2rounds, led 1
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Also claim to have backed them
These 6 firms list SWAP as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.
Quick answers about SWAP
How much has SWAP raised?
SWAP has raised $165M across 3 rounds since 2021.
When did SWAP last raise?
SWAP's most recent round was a Series C of $100M in Jan 2026.
What was SWAP's biggest round?
Its most recent round, $100M in Jan 2026, is also its largest on record.
Who backed SWAP first?
SWAP's first round on record, in Oct 2021, was backed by FJ Labs, Hustle Fund and Canary and 2 others.
What stage is SWAP at?
SWAP's latest named round is a Series C, in Jan 2026.
Where is SWAP based?
SWAP is based in Brazil.
Who led SWAP's rounds?
ICONIQ Capital led the Series B in 2025.
Companies like SWAP
In the same sector, and raised in the last eighteen months.
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