What is WeSwap.com?
WeSwap.com is a fintech company that previously offered mobile app technology and administrative services for travel money solutions. Despite ceasing operations related to its mobile app and travel money distribution due to a technology service provider failure, the company has committed to consumer safety, ensuring customer funds are secure and facilitating withdrawals through its card issuer, Monavate. The company's intended clients included users of its mobile app and cardholders, who are being supported during 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 IW Capital and EC1 Capital
Series A (2014): $7.5M led by IW Capital and EC1 Capital
Angel/Seed (2016): $3M supported by Seedrs
Series B (2017): $10.1M featuring IW Capital
Key Investors in WeSwap.com
IW Capital
IW Capital is a venture capital firm that supports high-growth UK businesses by providing bespoke investment opportunities aimed at long-term growth and significant tax relief through the Enterprise Investment Scheme (EIS). The company focuses on backing ambitious founders and offers more than just capital, delivering essential connections and commitment to accelerate growth.
EC1 Capital
EC1 Capital is an investment firm focused on early-stage technology companies, providing seed funding and strategic support to help startups scale. They are known for their hands-on approach, assisting portfolio companies with market entry, product development, and future fundraising rounds.
Seedrs
Seedrs is an equity crowdfunding platform that provides online investment opportunities, enabling individuals to invest in a wide range of startups and growing businesses.
What's next for WeSwap.com?
The company's history of securing significant funding rounds, including Angel/Seed, Series A, and Series B, indicates a strong growth phase prior to its operational changes. The recent major strategic investment suggests a potential pivot or restructuring, possibly aimed at leveraging its remaining assets or technology in a new capacity. Further developments will likely focus on how WeSwap.com navigates its current operational status and supports its remaining user base and cardholders.
See full WeSwap.com company page
