Swapit Got Accepted into Cyberport Incubation Programme – Secures Access to $330,000

Cyberport_png_1845d38b-7b79-4492-9994-f72565ed78b9We are proud to announce that Swapit just got accepted into the Cyberport Incubation Programme. Yesterday, we have signed the necessary papers and we can now call ourselves “Cyberport Incubatee”.

Here is a quick intro the Cyberport Incubation Programme:

The Cyberport Incubation Programme is at the front and centre of Cyberport Entrepreneurs, supporting entrepreneurs and start-ups with financial assistance and a range of business and professional services to accelerate their growth in different stages.

The programme reimburses Incubatees with up to HK$330,000 over a 24-month incubation period to help them jump-start their businesses.

You can find out more at the official website: Cyberport Incubation Programme

swapit_marketing-dollarAs stated on their website, as an incubatee we will now receive a HK$50,000 cash grant as working capital. Furthermore, we will be able to access up to HK$280,000 in subsidies for staffing, marketing, advertising and professional services.

We’ve chosen to join their “off-site” program, which means we won’t be having an office at Cyberport for now.

Furthermore, there are additional benefits associated with being a Cyberport Incubatee. We will receive several rounds of mentoring from industry experts, have access to some Cyberport facilities and services – free of charge, and even get free hosting credits from some of Cyberport’s partners like Amazon Web Services and their AWS activate program.

The whole Swapit team is excited to be part of the Cyberport community and we are looking forward to a successful 2 year program.

Have you tried Swapit yet? It’s now available for iPhone and Android!
Free Download: http://get.swapit.la

Advertisements

Press Release: Hyper-local Marketplace App Swapit Secures Follow Up Funding from Private Equity Investor

swapit-blog_leapWe’re proud to announce Swapit’s second investment from a private equity investor who brings a lot of domain knowledge to the table. Only 2 months ago we received investment from Aria Ventures.

We’re excited to grow our group of partners which not only provide capital, but also extensive domain knowledge and vast strategic experience in our markets.

Here is the official press release:

Leading Marketplace Platform Will Use Funds to Accelerate Growth.

HONG KONG, Feb. 22, 2016 – Swapit, the unique hyper-local marketplace for trading pre-loved items, announced today they have raised an undisclosed amount of funding from private equity investors. This follows the seed funding they had raised from Aria Ventures in December 2015. The financing will be used to fund Swapit’s continued market domination in Hong Kong, regional market expansion and for further investment in its proprietary technology platform.

“Swapit has shown fantastic growth over the past quarters and months and we are happy to see other investors following our lead investment.” said Kevin Kwong from Aria Ventures. “Patrick and the team are dedicated to bring their hyper-local marketplace to the broad masses and create a global market leader. Swapit is a great example of a Hong Kong startup, which has a global vision and executes perfectly on their roadmap while being based out of Asia’s world city Hong Kong.”

“This follow-up investment proves that our compelling vision for a hyper-local marketplace is being shared by many investors. We have been growing 100% month over month, over the past quarters and we are planning to accelerate that growth. With our current financing, we are well positioned to become the market leader in Hong Kong and across Asia Pacific.” said Patrick Kosiol, CEO of Swapit. “We’re excited to grow our group of partners which not only provide capital, but also extensive domain knowledge and vast strategic experience in our markets.”

Founded in 2015 in Hong Kong, Swapit operates a hyper-local mobile marketplace that brings together buyers and sellers, who are already nearby each other. By providing an exclusive real-time experience combined with their award-winning design, Swapit has already attracted thousands of traders across the territory. Furthermore, Swapit has been accepted into industry-leading accelerator programs, such as SoftLayer Catalyst, Microsoft BizSpark and Facebook’s FbStart, which provide access to over US$200,000 worth of products and services.

About Swapit

Swapit Limited is a technology-driven company that is revolutionizing the way people trade pre-loved and new goods in densely populated areas. Led by mobile entrepreneurs with a combined industry experience of over 40 years, Swapit is built from the ground-up, as a largely scalable business to ensure rapid growth and high margin revenue generation. By focusing on a superior customer experience, the Swapit team makes product decisions purely based on excelling customer happiness. For more information, visit: http://www.swapit.la

The Swapit logo is available at: http://press.swapit.la

About Aria Ventures

Aria Ventures, a division of The Aria Group, provides early stage seed funding to technology startups globally. Its mission is to find talented entrepreneurs with innovative ideas that have the potential to be a significant disruptive force in their respective industries.

The Aria Group is a Hong Kong-based family office with a multi-strategy investment platform and invests in various asset classes globally, including fixed income, equities, real estate, private equity and other alternative investments such as hedge funds. For more: http://www.ariagp.com/

A PDF version is available as well.

This press release can also be found on PRLOG at Hyper-local Marketplace App Swapit Secures Follow Up Funding from Private Equity Investor

 

Press Release: Hyper-local Marketplace App Swapit Grabs Seed Funding from Aria Ventures

swapit-blog_leapWe are proud to announce Swapit’s first investor who shares our passion and chose to join Swapit on our journey ahead.

Aria Ventures is taking a leap of faith with us and we appreciate the trust they put in our team and execution.

Here is the official press release:

Leading Marketplace Platform Will Use Funds to Dominate Local Market and Prepare for APAC Expansion.

HONG KONG, Dec. 10, 2015 – Swapit, the unique hyper-local marketplace for trading pre-loved items, announced today they have raised an undisclosed amount of seed funding from Aria Ventures, a division of The Aria Group (ARIA). The financing will be used to fund Swapit’s continued market domination in Hong Kong, regional market expansion and for further investment in its proprietary technology platform. Kevin Kwong, CEO and Managing Partner at ARIA, will join Swapit’s board of directors.

“Swapit has rapidly developed a leadership position in the fast growing mobile-first market for trading pre-loved goods.” said Kevin Kwong. “What Patrick and the team have developed over the past months is impressive, and we’re excited to be working together to create a global market leader. Swapit is a great example of the type of founder-led, capital-efficient business that we like to invest in.”

“With their headquarters in Hong Kong and extensive investments in the region, ARIA is an ideal partner as we continue to scale our business regionally into specific markets in the Asia Pacific region.” said Patrick Kosiol, CEO of Swapit. “We’re excited to have a partner on board that provides us not only with capital, but also vast strategic experience in our market.”

Founded in 2015 in Hong Kong, Swapit operates a hyper-local mobile marketplace that brings together buyers and sellers, who are already nearby each other. By providing an exclusive real-time experience combined with their award-winning design, Swapit has already attracted thousands of traders across the territory. Furthermore, Swapit has been accepted into industry-leading accelerator programs, such as SoftLayer Catalyst, Microsoft BizSpark and Facebook’s FbStart, which provide access to over US$200,000 worth of products and services.

About Swapit

Swapit Limited is a technology-driven company that is revolutionizing the way people trade pre-loved and new goods in densely populated areas. Led by mobile entrepreneurs with a combined industry experience of over 40 years, Swapit is built from the ground-up, as a largely scalable business to ensure rapid growth and high margin revenue generation. By focusing on a superior customer experience, the Swapit team makes product decisions purely based on excelling customer happiness. For more information, visit: http://www.swapit.la

The Swapit logo is available at: http://press.swapit.la

About Aria Ventures

Aria Ventures, a division of The Aria Group, provides early stage seed funding to technology startups globally. Its mission is to find talented entrepreneurs with innovative ideas that have the potential to be a significant disruptive force in their respective industries.

The Aria Group is a Hong Kong-based family office with a multi-strategy investment platform and invests in various asset classes globally, including fixed income, equities, real estate, private equity and other alternative investments such as hedge funds.

A PDF version is available as well.

This press release can also be found on PRLOG at Hyper-local Marketplace App Swapit Grabs Seed Funding from Aria Ventures.

Swapit Secures Support Worth $30,000 from Facebook’s FbStart Program

swapit-blog_fbstartSwapit has just been accepted into Facebook’s FbStart program which gives us access to $30,000 worth of startup services. With great honor, we appreciate the trust brought towards us by the FbStart team. Here is what FbStart is about:

FbStart is a new program from Facebook designed to help early stage mobile startups build and grow their apps.

At Swapit, we are dedicated to take full advantage of the tools and services given to us. Some might not apply to us, but others are really useful. To give you a quick overview of what we can tap into, here is a list of companies that are partners of FbStart and provide some of their services to us:

Category BUILD – Everything you need to build your app and your business

Parse, Adobe, Appmethod, Asana, Balsamiq, GitHub, Mobile Action, Namecheap, Proto.io, Rocket Lawyer, Transparent Business, UserTesting, Yandiki

Category GROW – Grow your app’s reach and engagement with these great tools

Facebook, Facebook Marketing Partners (Nanigans, Glow, Ampush, AdParlor, Social.com), Desk.com, Hootsuite, MailChimp, Transifex, Workable, Zendesk

Category MONETIZE – Start earning revenue from your app with our monetization partners

Stripe

Here is a quick overview:

2015-09-29_fbstart_program_partners

Again, we are absolutely delighted to be part of the FbStart eco-system and are looking forward to work together. We have already integrated Facebook into Swapit. We are looking to do much more on that front and revolutionize the way people trade pre-loved items nearby.

Have you tried Swapit yet? Download it at http://get.swapit.la

P.S.: Just in case someone is interested, this is the information I left the RISE conference this year where the FbStart folks talked to me. Seems it worked out to follow up on it.

IMG_20150929_144326_edit

Swapit Secures Support from Microsoft BizSpark Program

microsoft-bizsparkSwapit has applied for the Microsoft BizSpark Program and has been accepted right away. We are proud to have been selected by Microsoft to become part of their startup eco-system that allows Swapit access to Microsoft’s vast resources, locally and globally.

Here is how Microsoft BizSpark advertises itself:

BizSpark gives startups 3 years of free stuff – software, services, tech support, and Azure cloud. Your startup qualifies if it is less than 5 years old, is privately held, and earns less than $1M annually. And at the end of your 3 years, you keep all the software you’ve downloaded – at no cost.

Benefits of the BizSpark program Swapit can tap into:

  1. MSDN Subscriptions (worth US$40,000)
  2. Microsoft Azure Benefits (worth US$27,000)
  3. Windows & Windows Phone Developer Accounts (worth US$300)
  4. Office 365 Subscription (worth US$1,500)

So in total, Swapit can access benefits through the Microsoft BizSpark program of up to US$68,800. That comes on top of the invaluable network benefits we receive by being a Microsoft BizSpark member.

Related posts:

Swapit Competitor “letgo” Raises $100M in Series A – First Founding Round

One of our competitors in the USA called “letgo” just raised USD $100M “To Take Over Classifieds In The U.S.” according to TechCrunch. We have of course seen, tried and been monitoring letgo’s progress over the past months. As for our regional competitors in Asia, I also feel about letgo, that is merely a “beautified Craigslist” on your phone. However, they must be having some Unique Value Proposition that convinced their investors to throw a very large amount of money at them.

The most interesting point though, is that we found these news through Owler which posted: letgo raised 100M funding in Series A from Naspers. Interestingly, swapit is mentioned as the #2 competitor to letgo. That is an honor to us and it absolutely validates our approach and vision for the second hand market. While we are focusing on Hong Kong and Asia regionally, as opposed to the USA like letgo.

We don’t ask for $100M (which would be great too, by the way). So for investors swapit could be a bargain right now. Check out our recent blog post: Seed Round Fund Raising has Started for SWAPIT Hong Kong

Swapit Secures Support from SoftLayer Catalyst Program

Screen Shot 2015-08-14 at 11.25.41 amSwapit has just joined the SoftLayer Catalyst Program at their highest tier for startups. We are very excited to have been accepted to SoftLayer’s very own startup incubator who’s core mission is

to enable next generation technologies and empower the entrepreneurs that will bring them to market.

We are thrilled to get access to the benefits that come with SoftLayer Catalyst:

  1. Access to a significant USD infrastructure credit on the SoftLayer platform.
  2. Mentorship access to “pick the brains of the industry veterans and über-genisues”.
  3. Incubator Integration, which allows us to collaborate and access more support outside, but affiliated with the SoftLayer incubation eco-system.

We will tap into all three of these benefits to grow swapit as fast as possible.

Since, we have launched our investor outreach for our funding round, we have received absolutely great feedback and accomplished to join several programs that help us cover costs, validate our business model and raise our valuation.