Shopify competitor Exchange raises $100M six months after raising $40M

VC firms DST Global and Iconiq are piling into London- and New York-based e-commerce startup Swap Commerce. Wednesday to start he announced raised a $100 million round just six months after raising a $40 million Series B round led by Iconiq.

Launched in 2022, Exchange Trade offers an AI-powered platform that helps brands create an online retail environment and manage border transactions, inventory management, and returns. The platform has become very popular with luxury clothing, and the company is targeting companies that want to sell their products worldwide. The company declined to comment on its latest statement.

Fast, substantial funding from such prominent VCs marks Exchange as a startup to watch, even though Exchange faces plenty of competition, including e-commerce behemoth Shopify.