Brazil-based Swap said to raise $3.3m in funding

July 8, 2020

Swap, a Brazilian FinTech helping companies access payments, has reportedly raised $3.3m in a funding round.

The capital injection was led by ONEVC, with additional support coming from GFC, SOMA Capital, ABSeed, Flourish Ventures and Hustle Fund, according to a report from Crunchbase. A number of angel investors also joined the round.

With the equity burst, the FinTech will look to improve its product infrastructure and onboard new clients.

SWAP enables businesses to create their own payment tools, which are easy to implement and offer full transparency, it claims. Companies can issue and process prepaid cards, white label app and API integrations, and management of payment accounts and funds.

There have been a number of FinTech deals to close in Brazil this year. Earlier in the year, Brazilian accountant platform Accountfy closed a $6.5m funding round, which was led by RedPoint eventures and HDI Seguros.

Lending platform ADDI also scored $15m in a funding round which was led by Quona Capital.