London-based Swap, an e-commerce operating system that connects operations on one platform for e-commerce brands, has secured $40M (nearly €36.99M) in a Series B funding round.The funding comes at a time when brands are looking for a comprehensive platform to manage cross-border transactions, inventory, returns, and AI-driven insights in one place.ICONIQ Growth led Swap’s latest investment round, which was participated in by Cherry Ventures, QED Investors, and 9900 Capital.Seth Pierrepont, General Partner at ICONIQ Growth, says, “We have been impressed by Swap’s product focus and velocity. 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.”“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.”ICONIQ Growth invests in companies shaping the future of their industries, supporting their growth from early stages to IPO and beyond. The firm provides resources and a network of founders and industry leaders to help portfolio companies. Its investment portfolio includes companies such as Adyen, Airbnb, Alibaba, GitLab, Uber, and Zoom, among others.Capital utilisationSwap plans to expand its presence in the UK, accelerate growth in the US and EU, and enter new markets, including Australia and Canada. It also aims to expand into verticals such as beauty, home goods, and consumer technology.The UK-based company will use the capital to expand its team and introduce Swap Inventory, a product that integrates with its platform. Swap Inventory is designed to enhance pricing modeling, provide AI-driven recommendations for restocking, and improve demand forecasting, inventory tracking, and data analysis. The product connects key operations within the merchant process, enabling businesses to consolidate multiple solutions into a single e-commerce system.Sam Atkinson, co-founder CEO of Swap, says, “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.”“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.”An e-commerce operating systemFounded in 2022 by Sam Atkinson and Zach Bailet, Swap provides an integrated platform designed to help merchants manage various aspects of their operations.By consolidating multiple tools into a single platform, businesses can reduce costs by 30 per cent, increase revenue by 8 per cent, and save the equivalent of seven working days per month through improved efficiency.The system connects functions such as cross-border transactions, inventory management, pricing, and returns within a single framework.Swap enhances decision-making and operational efficiency by incorporating AI, data, and analytics

ICONIQ Impact's Youth Mental Wellbeing Co-Lab is supporting 25 organizations that are addressing youth anxiety and depression around the world.NEW YORK, March 5, 2025 /PRNewswire/ -- Today, ICONIQ Impact , ICONIQ Capital's platform for collaborative philanthropy, announced the grantees of the Youth Mental Wellbeing Co-Lab—a collaborative philanthropy fund that aims to mobilize $200 million to support organizations addressing youth anxiety and depression around the world.The Co-Lab is kicking off with $112 million in donations from eight philanthropic donors and will support 25 grantee organizations with unrestricted funding over five years.A Syrian girl in Azraq Refugee Camp, Jordan, finds joy and healing through Artolution’s collaborative art."This Co-Lab is boldly supporting organizations addressing critical but often neglected areas of youth mental health, like ensuring culturally responsive care for underserved populations and teaching young people how to build healthy relationships with technology," says Xin Liu, philanthropist and anchor donor to the Youth Mental Wellbeing Co-Lab. "We're encouraging other philanthropists to join us in this effort because we have an opportunity and a responsibility to empower the most vital and powerful force this world has—its young people."The mental health and wellbeing of young people around the world has been declining for nearly two decades. Roughly 20% of youth globally struggle with anxiety, and nearly one in four experience symptoms of depression. Mental health and policy experts agree that global trends like a worsening climate, financial inequity, social media use, and more have created a bleak present—and future—for young people around the world. This is particularly true for young people in the Global South, who often deal with compounding crises like extreme poverty, conflict, and forced migration.Despite an increased need for support, only 2% of government health funding globally is directed toward mental health, leaving many young people without the care they need. Youth mental health and wellbeing is a prime space for support; every dollar given toward scaling interventions for depression and anxiety returns four times its value in terms of improved health and productivity.It's against this backdrop that ICONIQ Impact—alongside Xin Liu and other philanthropists in the ICONIQ community—launched the Youth Mental Wellbeing Co-Lab, which will support organizations focused on reducing youth anxiety and depression by (1) giving young people agency, (2) helping them foster a sense of community and belonging, and (3) building their resilience.Giving young people agency: Economic inequity, climate anxiety, political turmoil, and other societal scale challenges can leave young people feeling powerless and like they lack the ability to control their own circumstances and futures

E-commerce operating system Swap has raised $40 million in Series B funding, led by ICONIQ Growth.