What is Swych?
Swych operates a mobile gifting platform that allows users to send "swychable" gifts, which can be instantly redeemed for electronic gift cards from over 600 popular brands. The platform facilitates the buying, sending, re-gifting, uploading, "swyching", and redemption of gift cards directly from a mobile device. Swych is an integral part of Finablr, a global entity focused on Payments and Foreign Exchange solutions. Finablr leverages deep regulatory expertise, technological innovation, and industry partnerships to deliver tailored financial solutions to consumers and businesses worldwide, processing over 150 million transactions and managing nearly USD 115 billion in 2018 across 170+ countries.
How much funding has Swych raised?
Swych has raised a total of $2.8M across 3 funding rounds:
Series A
$2.3M
Debt
$150K
Debt
$348K
Series A (2017): $2.3M with participation from UAE Exchange Group
Debt (2020): $150K led by PPP
Debt (2021): $348K supported by PPP
Key Investors in Swych
UAE Exchange Group
UAE Exchange Group, founded in 1980 and headquartered in Abu Dhabi, is a prominent financial services provider specializing in remittance, currency exchange, and bill payment solutions, bringing significant financial sector expertise to Swych's growth.
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Swych?
The recent major strategic investment in Swych signals a pivotal phase for the company, likely aimed at scaling its operations, enhancing its mobile gifting technology, and expanding its brand partnerships. As part of the Finablr group, Swych is positioned to leverage broader financial infrastructure and global reach. This capital infusion is expected to fuel further innovation in the digital gifting space, potentially leading to new features, broader market penetration, and strategic acquisitions to solidify its position as a leader in mobile commerce and digital payments.
See full Swych company page
