We’re proud to announce Swapit’s second investment from a private equity investor who brings a lot of domain knowledge to the table. Only 2 months ago we received investment from Aria Ventures.
We’re excited to grow our group of partners which not only provide capital, but also extensive domain knowledge and vast strategic experience in our markets.
Here is the official press release:
Leading Marketplace Platform Will Use Funds to Accelerate Growth.
HONG KONG, Feb. 22, 2016 – Swapit, the unique hyper-local marketplace for trading pre-loved items, announced today they have raised an undisclosed amount of funding from private equity investors. This follows the seed funding they had raised from Aria Ventures in December 2015. 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.
“Swapit has shown fantastic growth over the past quarters and months and we are happy to see other investors following our lead investment.” said Kevin Kwong from Aria Ventures. “Patrick and the team are dedicated to bring their hyper-local marketplace to the broad masses and create a global market leader. Swapit is a great example of a Hong Kong startup, which has a global vision and executes perfectly on their roadmap while being based out of Asia’s world city Hong Kong.”
“This follow-up investment proves that our compelling vision for a hyper-local marketplace is being shared by many investors. We have been growing 100% month over month, over the past quarters and we are planning to accelerate that growth. With our current financing, we are well positioned to become the market leader in Hong Kong and across Asia Pacific.” said Patrick Kosiol, CEO of Swapit. “We’re excited to grow our group of partners which not only provide capital, but also extensive domain knowledge and vast strategic experience in our markets.”
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.
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. For more: http://www.ariagp.com/
A PDF version is available as well.
This press release can also be found on PRLOG at Hyper-local Marketplace App Swapit Secures Follow Up Funding from Private Equity Investor