This week, Swap celebrates another year of many accomplishments, including new product launches, seal achievements, and tripling the Swappers team. Learn more.
Swap emerged in 2018 as a technology infrastructure company whose mission is to simplify the creation and launch of new fintechs on the market, making ideas viable that, until yesterday, seemed impossible for entrepreneurs in the financial market.
Currently a global trend, fintechs are here to stay and are only growing day by day. And Swap is one of the companies that contributes to this movement, but in a totally different way in the market.
There are many interesting facts to tell and stories to share. And we created an overview of the great moments of this trajectory to share with you:
Our grand plan
We were born with the grand plan of removing barriers to help entrepreneurs enter the market. With our solutions, we remove what is difficult, what is expensive, what is complicated. And this is possible because we have some special characteristics:
- We offer comprehensive solutions that resolve everything for the entrepreneur, from technology to card logistics, regulatory abstraction, and connections with the financial ecosystem;
- Our clients can always count on us, from the structuring of the business plan to the resolution of day-to-day calls;
- And we are the only company in the market that operates under 100% specialized verticals. We have the ideal financial technology for companies offering benefit, corporate expense, and credit solutions, because our products and functionality have been developed using studies and listening to customers in these markets.
100% specialized verticals
We don’t want to just be a vendor, but to dive deep into our clients’ pain points, understand their business deeply, and work anticipating trends and strategic solutions for their growth.
That’s how we launched Multiflex in March 2021, the world’s only Banking as a Service with a specialized means of payment technology solution for flexible benefits. In September of the same year, it was time for Float, a BaaS solution for companies that have or wish to have credit operations.
In July 2022, we once again perceived the market trends and saw growth possibilities for our clients, so we launched Corpway, our business front focused on delivering white-label financial and technology solutions for corporate expense and spend management companies.
More than a vender, business partners
We are proud to be recognized for our agility in solving calls and serving clients: our response rate is 6 times faster than the market average. Our service response speed and team of professionals go beyond the role of a vendor, acting as true business partners, providing in-depth consulting and discussing business strategy with our clients.
In the last year alone, we have achieved some important seals that demonstrate the strength and robustness of our business:
- In September 2022, for the second consecutive year, we achieved the 100 Startups to Watch seal, an award developed by the press organizations Pequenas Empresas & Grandes Negócios and Época Negócios, in addition to EloGroup and Innovc, which annually elects the most promising businesses in the Brazilian innovation ecosystem.
- In August, our GPTW – Great Place to Work For seal was renewed, which attests to the companies that are benchmarks when it comes to professional appreciation and people management.
- In February 2022, we received the Cubo Itaú Seal, which is awarded to the main Startups in the country that become part of a network of excellence that undergoes a rigorous and continuous curation process. Cubo Itaú is one of the main Hubs for fostering entrepreneurship in Latin America.
- In December 2021, we were certified by the DNA USP Seal, created to identify companies made up of students, alumni and researchers who have passed through the University of São Paulo over the years.
Most Swappers in the world
All these launches and achievements were only possible because there are highly qualified people developing these products and services. In this anniversary month, we hit the mark of 167 Swappers, up 220% since October last year.
Speaking of growth, since October 2021, we have had a 68% increase in our client base, multiplied the number of active cards by 5 and grown our annual recurring revenue by more than 9-fold. This is an important milestone because our anniversary last year was accompanied by our BRL 135 million Series A.
In this first year of Series A, the investment of the amount raised happened on three fronts for the startup’s expansion, hiring new talent, increments in products to expand the service to segments already incorporated, such as Cardless Payment, and the launch of a new segment, Corpway.
Our CEO, Doug Storf, points out that we have maintained a steady growth during this fourth year of existence, as the company maintains organizational clarity and a lucid management, based on solid business principles, where technology, efficiency, and creativity make it possible to effectively control expenses.
“We have consolidated ourselves as an attractive business for our investors, employees, and partners, due to sustainable and scalable relationships and business models. Even during a turbulent year for the ecosystem, we were able to maintain austerity and keep hiring. We managed to help our customers face this phase as well, generating real economic value, and together we expanded the size of the market we serve”, he says.
Doug says that for the new year ahead for Swap, the goal is to continue breaking down barriers to revolutionize the financial market.
“We will enter new segments, which need their barriers to be broken down, just as we have already done with Multiflex, Float, and Corpway. We will work together with our clients, regulator, and partners to find more and more economic incentives for the system, generating real value for all. We will continue to innovate in the business model and in building technology to provide comprehensive solutions that really change the market”, concludes Doug.