Swoop secures strategic investment from Sandbox Industries
Swoop, the award-winning global business funding and savings platform, is excited to announce a significant strategic investment from Sandbox Industries, a leading venture capital and consulting firm with deep expertise in the insurance and financial services sectors. This investment will power Swoop’s ambitious expansion into the US market and strengthen its mission to empower SMEs worldwide with access to essential funding and savings.
Chris Zock, managing partner and Co-CEO of Sandbox Industries, commented: “We look at hundreds of companies globally in search of compelling investment opportunities. We believe Swoop has “cracked the code” for small businesses in need of funding. Through its direct connections with verified data sources, Swoop short-circuits the otherwise inefficient and frustrating process of securing the right lending partner. We are excited to be joining Swoop in its next phase of growth and to help with the company’s expansion into the US market.”
This investment comes on the back of Swoop’s impressive revenue growth and expanded partnerships with global leaders such as JustWorks, Flippa, and Sage. Swoop expects to leverage this investment and its relationship with Sandbox Industries to accelerate its scaling efforts, particularly in the US, while leveraging strategic access to the insurance market, a critical component of delivering comprehensive funding solutions for SMEs.
The US SME market represents a significant opportunity, with small businesses accounting for 99.9% of all US firms and employing nearly half of the private sector workforce. Despite their critical role, the IFC estimates SMEs face a financing gap of $1.2 tn, presenting a substantial opportunity for Swoop to bridge this gap and provide essential funding solutions as it expands into the US.
Current investors have joined Sandbox Industries in this new round. Velocity Capital, an early investor in Swoop, has played a pivotal role in the company’s growth journey.
Rajeev Saxena, CEO of Velocity Capital, said: “We are delighted to have delivered a 6.7x return for early-stage investors after five years and remain committed to Swoop for our later-stage investors.”
Andrea Reynolds, CEO at Swoop, added: “This partnership with Sandbox Industries marks a pivotal moment for Swoop. It’s not just about scaling further but about strategically expanding into the US market with an investor partner that brings unmatched industry expertise and connections. Together, we are well-positioned to transform the funding landscape for SMEs globally.”
Swoop’s vision remains steadfast: to provide businesses of all sizes and sectors with the funding, tools and resources needed to grow, scale, and thrive. With the support of Sandbox Industries, Velocity Capital, and its growing ecosystem of partners and investors, Swoop is poised for an exciting new chapter.