As crypto enters the financial mainstream, a huge unmet need persists: a method to seamlessly connect crypto to traditional banking for daily transactions. Since 2017, Estonian fintech startup Swapin has boldly stepped up to bridge this gap.
Powered by a commitment to drive real-world crypto utility and adoption, Swapin has built multiple innovative solutions for buying, selling and spending crypto.
Starting Success: A Groundwork For Excellence
As of this publication, more than 800 B2B customers and 18,500 B2C customers have used Swapin to securely facilitate €82 million worth of crypto transactions: a highly impressive feat for a young company. Swapin also won MasterCard’s prestigious Lighthouse FINITIV People’s Choice Award in May of this year, affirming the promise of its offerings and the industry and community belief in its utilities.
The startup’s founder and CEO Evald-Hannes Kree explains Swapin’s creation:
“There were many crypto businesses for trading and investing, but no proper solution to spend crypto daily. As an early adopter, I realized services like Swapin would become a missing link.”
Staying true to this vision, Swapin now witnesses over 15% average monthly growth, enabling casual crypto users and businesses alike to unlock crypto’s spending potential while upholding banking compliance standards.
Pioneering Crypto Adoption Through Real Utility
As one of Europe’s earliest crypto-bank transaction connectors, Swapin has rolled out multiple cutting-edge applications:
SwapinBuy: Enables easy crypto purchases with bank transfers.
SwapinGet: Securely converts crypto to fiat on users’ bank accounts in a time-efficient manner.
SwapinPay: Facilitates paying fiat invoices, employee salaries, and business invoices using cryptocurrencies.
SwapinCollect: A solution allowing businesses to accept crypto payments from customers and receive Euros in their bank account.
Notably, Swapin processes all transactions non-custodially, meaning users retain complete ownership of funds. Algorithmic AI transaction monitoring also ensures robust risk checks.
This combination of convenience and security has won strong customer loyalty for Swapin – over 55% of its users actively promote the platform through referrals and ratings.
Empowering Web3 Platforms With Seamless Crypto On- & Off-Ramping
Swapin’s latest and high-demand solution, SwapinWidget, brings crypto on-and-off ramp capability to wallet providers, exchanges, NFT marketplaces and decentralized applications through an easily integrated widget. This provides their end-users easy and secure crypto transactions to increase user engagement and retention.
Evald-Hannes explains Swapin’s Web3 focus:
“Our widget fills a huge gap for platforms facilitating billions in crypto volume but lacking fiat gateways for users.”
Early traction signals promising validation, with 6 partners already onboarded and 2 platforms in the integration stage. Swapin is currently engaged in integration discussions with over 30 additional prospective Web3 partners.
To boost SwapinWidget’s ambitious scaling plans plus expand its crypto-bank offerings, Swapin closed a €1.89 million pre-seed investment in April of 2022 at a €10 million pre-money valuation. Recently, Swapin has seen significant user-base expansion: over 600 unique active users onboarded so far in Q4 with 1511 sign-ups, plus €1.2 million turnover within December’s first 12 days.
With strong momentum, the future looks bright for Swapin’s mission of crypto reaching its full potential.
Investor-Validated Growth Trajectory
Currently, Swapin is searching for investors in their latest round of funding, which closes by the end of this month (December 2023).
Swapin plans to leverage its fresh funds by:
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Growing its sales and development teams, aiming to reach 25 team members in Q1 2024.
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Increasing its liquidity pools for instant transaction settlements to match predicted large amounts of transactions and volumes with an increasing amount of SwapinWidget partnerships.
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Ramping up marketing campaigns targeting Web3 platforms with their new B2B2C focus.
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Fast-tracking their goal of 50+ SwapinWidget integrations in Q1 2024.
Recent milestones signifying Swapin’s accelerating advancement:
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A 22.34% increase in completed transactions in November compared to previous month
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Launched Dedicated IBANs and the SwapinBuy crypto on-ramp solution for individuals and business customers
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Attracted enthusiasm from over 30 potential SwapinWidget integration partners
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Growing global visibility through events like Abu Dhabi Finance Week, the Green Blockchain Summit, and most recently W3N.
As Swapin charts its next growth phase, this promising startup is set to lead financial infrastructure for the Web3 industry, making crypto transactions as easy and smooth as traditional currency.
Try Swapin for yourself today and contribute to the real-world crypto adoption movement!
If you are interested in becoming a part of Swapin’s journey as an investor, then explore their pitch deck here. Please note, Swapin’s current funding round closes by the end of December 2023.
Disclaimer:
The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.
This press release was originally published on this site