ETtechBengaluru-based online commerce enabler Swift has raised $2.2 million funding led by Kalaari Capital with participation from existing investors FirstCheque, Indian Angel Network and other angel investors.
The startup plans to use the funds raised to scale engineering efforts and simplify complex business workflows across checkout, payments and fulfillment.
"Competing with marketplaces like Amazon and Flipkart, without the infrastructure to enable commerce is akin to running a mule in a horses' race. At Swift we have built a one-stop solution that enables sellers to focus on their core business while our infrastructure manages everything around it - cart conversions, payments, fulfilment and returns reconciliation," said Mittal.
The startup's ‘Fulfill with Swift’ product combines order management system (OMS), warehouse management system (WMS), shipping and reconciliation on a single platform while its recently launched ‘Swift Checkout’ product helps sellers increase order volume by reducing cart abandonments. It claims to shorten the checkout times to less than 10 seconds.
"The D2C ecosystem and vertical e-commerce in India has been growing rapidly in the last few years. We believe building solutions that cater to online brands and SMEs, which will help them to compete with large horizontal e-commerce players, will be a large opportunity going forward" said Kiran Vasireddy, partner at Kalaari Capital.
The startup plans to use the funds raised to scale engineering efforts and simplify complex business workflows across checkout, payments and fulfillment.
Founded in 2019 by Shyam Kalita, Prayas Mittal, and Debanshu Sinha, Swift helps small and medium-sized businesses run their online commerce ventures. It also caters to direct-to-customer (D2C) brands, drop shippers and omnichannel brands.
"Competing with marketplaces like Amazon and Flipkart, without the infrastructure to enable commerce is akin to running a mule in a horses' race. At Swift we have built a one-stop solution that enables sellers to focus on their core business while our infrastructure manages everything around it - cart conversions, payments, fulfilment and returns reconciliation," said Mittal.
The startup's ‘Fulfill with Swift’ product combines order management system (OMS), warehouse management system (WMS), shipping and reconciliation on a single platform while its recently launched ‘Swift Checkout’ product helps sellers increase order volume by reducing cart abandonments. It claims to shorten the checkout times to less than 10 seconds.
"The D2C ecosystem and vertical e-commerce in India has been growing rapidly in the last few years. We believe building solutions that cater to online brands and SMEs, which will help them to compete with large horizontal e-commerce players, will be a large opportunity going forward" said Kiran Vasireddy, partner at Kalaari Capital.
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