Swapin, a Tallinn-based crypto payment provider, raises €1.68M

The Estonian crypto payment provider Swapin has raised €1.68 million in a seed round for its crypto-fiat solution. Several renowned investors from venture funds backed the round, ArcticStartup reports.

  • Founded in 2017, Swapin is an Estonian startup that tries to bridge the gap between crypto and fiat finance. It develops a platform that enables users to send, receive, and store crypto around the world. 
  • The current funding round opened privately in December 2021 and closed at the €1.68 million mark. It attracted many private investors who have joined Swapin as advisors.
  • The list of investors includes an Estonian tech visionary Taavi Kotka, former Plumbr CEO Ivo Mägi, EveryPay founder Kristjan Novitski, and Covesting founder Dmitrij Pruglo.
  • The raised funds will boost Swapin’s further development. The team also wants to extend the current product lineup: CoinCollector and E-com, with Instabuy to be added.
  • In addition, Swapin plans to acquire an Electronic Money Institution (EMI) license to enhance its capabilities in the legal fields.