Swaap is a technology company.
Swaap has raised $5.0M across 1 funding round.
Swaap has raised $5.0M in total across 1 funding round.
Swaap is a French Web3 startup founded in 2021 that builds and operates onchain trading systems as a decentralized finance (DeFi) protocol. It enables users to earn passive yields through market making by providing liquidity on the blockchain, using on-chain market data integrated with quantitative models to power an automated market maker (AMM) that neutralizes impermanent loss—a key risk in traditional liquidity provision.[1][3][5] Swaap serves DeFi participants seeking efficient, fair, and sustainable financial tools, solving problems like market inefficiency and yield generation in volatile crypto markets. The company has raised $4.5 million in seed funding, launched two protocol versions, expanded its team, and achieved over $1 billion in monthly trading volume across 11 chains, with a focus on user acquisition and product refinement.[1][5]
Swaap was co-founded in 2021 by Cyrille and David Bouba, who aimed to create a more efficient, fair, and sustainable blockchain-based financial system.[1][2] As a portfolio company of the Entrepreneurs First accelerator, they received £90,000 (approximately $90,000 at the time) during the program, which helped kickstart development about two years prior to their 2023 update.[1] Early traction included participating in the accelerator, followed by a $4.5 million seed round from prominent VCs and angels like Julien Bouteloup, Meltem Demirors, and others, enabling team growth and protocol launches.[1][5] A pivotal moment was migrating from Google Cloud Platform to AWS in partnership with Automat-it, optimizing infrastructure for scalability, reducing costs, and achieving under four hours of downtime—setting the stage for faster time-to-market.[2]
Swaap rides the DeFi and onchain trading wave, capitalizing on blockchain's shift toward automated, trustless financial systems amid rising demand for yield-generating tools in a maturing crypto ecosystem.[1][4] Timing aligns with multi-chain expansion and infrastructure improvements like AWS migrations, which enhance scalability as trading volumes surge past $1B monthly—fueled by market forces such as tokenized assets, institutional adoption, and the need for risk-mitigated liquidity.[2][5] By neutralizing impermanent loss, Swaap influences the ecosystem by making market making accessible, potentially boosting overall DeFi liquidity and efficiency while competing in a fragmented space dominated by protocols like Uniswap.[3]
Swaap's near-complete product, strong metrics, and investor backing position it for aggressive user onboarding and protocol iterations, potentially capturing more multi-chain volume as DeFi TVL grows.[1][5] Trends like AI-driven quant models, real-world asset tokenization, and regulatory clarity for sustainable yields will shape its path, evolving its influence from niche AMM innovator to core DeFi infrastructure player. With infrastructure optimized for scale, Swaap could redefine passive income in blockchain finance, building on its mission for a fairer system.[1][2]
Swaap has raised $5.0M in total across 1 funding round.
Swaap's investors include AngelList Syndicator, BITKRAFT Ventures, Curious Capital, Dreamers VC, eFounders, Motier Ventures, Outrun Ventures, Pareto Holdings, Pioneer Fund, QBIT Capital, Sequoia Capital, Ben Perszyk.
Swaap has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Seed in April 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2023 | $5.0M Seed | AngelList Syndicator, BITKRAFT Ventures, Curious Capital, Dreamers VC, eFounders, Motier Ventures, Outrun Ventures, Pareto Holdings, Pioneer Fund, QBIT Capital, Sequoia Capital, Ben Perszyk, Frederic Montagnon, Julien Romanetto, Pascal Gauthier, Rand Hindi, Thibaud Elziere |