Press Release: Hyper-local Marketplace App Swapit Grabs Seed Funding from Aria Ventures

swapit-blog_leapWe are proud to announce Swapit’s first investor who shares our passion and chose to join Swapit on our journey ahead.

Aria Ventures is taking a leap of faith with us and we appreciate the trust they put in our team and execution.

Here is the official press release:

Leading Marketplace Platform Will Use Funds to Dominate Local Market and Prepare for APAC Expansion.

HONG KONG, Dec. 10, 2015 – Swapit, the unique hyper-local marketplace for trading pre-loved items, announced today they have raised an undisclosed amount of seed funding from Aria Ventures, a division of The Aria Group (ARIA). The financing will be used to fund Swapit’s continued market domination in Hong Kong, regional market expansion and for further investment in its proprietary technology platform. Kevin Kwong, CEO and Managing Partner at ARIA, will join Swapit’s board of directors.

“Swapit has rapidly developed a leadership position in the fast growing mobile-first market for trading pre-loved goods.” said Kevin Kwong. “What Patrick and the team have developed over the past months is impressive, and we’re excited to be working together to create a global market leader. Swapit is a great example of the type of founder-led, capital-efficient business that we like to invest in.”

“With their headquarters in Hong Kong and extensive investments in the region, ARIA is an ideal partner as we continue to scale our business regionally into specific markets in the Asia Pacific region.” said Patrick Kosiol, CEO of Swapit. “We’re excited to have a partner on board that provides us not only with capital, but also vast strategic experience in our market.”

Founded in 2015 in Hong Kong, Swapit operates a hyper-local mobile marketplace that brings together buyers and sellers, who are already nearby each other. By providing an exclusive real-time experience combined with their award-winning design, Swapit has already attracted thousands of traders across the territory. Furthermore, Swapit has been accepted into industry-leading accelerator programs, such as SoftLayer Catalyst, Microsoft BizSpark and Facebook’s FbStart, which provide access to over US$200,000 worth of products and services.

About Swapit

Swapit Limited is a technology-driven company that is revolutionizing the way people trade pre-loved and new goods in densely populated areas. Led by mobile entrepreneurs with a combined industry experience of over 40 years, Swapit is built from the ground-up, as a largely scalable business to ensure rapid growth and high margin revenue generation. By focusing on a superior customer experience, the Swapit team makes product decisions purely based on excelling customer happiness. For more information, visit: http://www.swapit.la

The Swapit logo is available at: http://press.swapit.la

About Aria Ventures

Aria Ventures, a division of The Aria Group, provides early stage seed funding to technology startups globally. Its mission is to find talented entrepreneurs with innovative ideas that have the potential to be a significant disruptive force in their respective industries.

The Aria Group is a Hong Kong-based family office with a multi-strategy investment platform and invests in various asset classes globally, including fixed income, equities, real estate, private equity and other alternative investments such as hedge funds.

A PDF version is available as well.

This press release can also be found on PRLOG at Hyper-local Marketplace App Swapit Grabs Seed Funding from Aria Ventures.