What is WeSwap.com?
WeSwap.com operates as a provider of mobile app technology and administrative services tailored for travel money solutions. Despite ceasing operations related to their mobile app and travel money distribution due to a technology service provider failure, the company remains committed to consumer safety. They ensure customer funds are secure and facilitate withdrawals via their card issuer, Monavate. Their services were intended for users of their mobile app and cardholders, who are currently being supported through this transitionary period.
How much funding has WeSwap.com raised?
WeSwap.com has raised a total of $22.6M across 4 funding rounds:
Angel/Seed
$2M
Series A
$7.5M
Angel/Seed
$3M
Series B
$10.1M
Angel/Seed (2013): $2M with participation from EC1 Capital and IW Capital
Series A (2014): $7.5M led by EC1 Capital and IW Capital
Angel/Seed (2016): $3M supported by Seedrs
Series B (2017): $10.1M featuring IW Capital
Key Investors in WeSwap.com
Seedrs
Seedrs is an equity crowdfunding platform that provides online investment opportunities, founded in 2009 and based in London.
IW Capital
IW Capital is a venture capital firm focused on supporting high-growth UK businesses through bespoke investment opportunities, aiming for long-term growth and tax relief via the Enterprise Investment Scheme (EIS).
EC1 Capital
EC1 Capital is an investment firm that provides capital and strategic support to ambitious founders, focusing on accelerating business growth through essential connections and commitment.
What's next for WeSwap.com?
The recent major strategic investment into WeSwap.com, following a period of operational challenges, suggests a potential pivot or a renewed focus on core competencies. The company's commitment to consumer fund security and facilitated withdrawals indicates a responsible approach during this transition. Future strategies will likely involve leveraging this capital to re-establish market presence, potentially through partnerships or a revised service model, while ensuring continued consumer trust and operational stability.
See full WeSwap.com company page
