Swap has raised over R$ 17 million in its seed round to enhance its Banking as a Service platform aimed at facilitating the creation of fintechs in Brazil.

Target Information

Swap is a startup focused on assisting the creation of fintechs, having successfully raised over R$ 17 million in its initial seed capital round. The investment was led by ONEVC, with contributions from various investors including Flourish Ventures, GFC, SOMA Capital, Hustle Fund, a.b.seed, Canary, and Rhombuz Ventures. Additionally, notable figures such as Ariel Lambrecht, the founder of 99 and Yellow, and iFood founders Guilherme Bonifácio and Patrick Sigrist participated in the funding, recognizing the common challenge of integrating payment systems and viewing Swap as a solution to streamline processes for emerging fintechs.

The founding team, consisting of Douglas Storf and Ury Rappaport, identified a gap in the marketplace requiring multiple integrations with financial services. Their previous experience at 99 highlighted the complexity and costs associated with managing various service providers, motivating them to create a Banking as a Service (BaaS) platform that addresses these challenges more efficiently.

Industry Overview in Brazil

The fintech industry in Brazil has witnessed remarkable growth in recent years, propelled by a combination of technological advancements and a strong demand for innovative financial se