Bangladeshi recommerce firm banks $1.25m in seed money

Bangladesh’s Swap, a platform that allows users to sell or exchange their belongings such as electronics and furniture, said it won US$1.25 million in seed backing.

More funding details

• Lead investor: Accelerating Asia
• Other investors: ZA Capital Advisory, Bangladesh Angels, and individual investors from Southeast Asia
• Stage: Seed

More company updates

• Since starting last year, Swap said it has generated over US$14.5 million in gross merchandise value, having served more than 40,000 customers to date. It expects to scale its operations up “significantly” in the next six to 12 months.
• The company said its platform had also helped reduce 1,100 metric tons of carbon emission and reduced e-waste by more than 65 metric tons in Bangladesh so far.
• Swap said it will use the new funds to improve its platform fuel its growth further.
• Earlier this year, Swap took part in the fourth cohort of Singapore-based accelerator Accelerating Asia’s 100-day program for pre-series A startups.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.