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Founded Year



Incubator/Accelerator - III | Alive

Total Raised


About SnapSwap

SnapSwap uses cryptographic technologies, cryptocurrencies and internet protocols to build financial products that allow consumers and businesses to participate in the global economy by bringing down barriers such as cost, complexity, and processing delays.

SnapSwap Headquarters Location

59, Boulevard Royal

Luxembourg City, L-2449,



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Expert Collections containing SnapSwap

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

SnapSwap is included in 2 Expert Collections, including Blockchain.



4,676 items

Companies and startups in this collection leverage blockchain technology for crypto trading, decentralized finance (DeFi), NFTs, and more.



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Latest SnapSwap News

Hg Exchange Graduates From MAS Fintech Regulatory Sandbox With RMO License

Jun 24, 2021

Hg Exchange (HGX), a private securities exchange formed by an alliance of leading capital market intermediaries, announced its graduation from the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox with a Recognised Market Operator (RMO) license. With this RMO license, HGX can now fully operate as a member-driven private exchange to support the issuance and trading of both digital and non-digital capital market products. According to HGX, the member-driven private exchange was established by four firms; Fundnel, PhillipCapital, PrimePartners and Zilliqa. Powered by blockchain platform provider Zilliqa, HGX technology allows for digitised securities issuance and secondary trading of digital securities. Digital securities can also be fractionalised, allowing investors to transact securities at more accessible price points. Meanwhile, PhillipCapital, a member firm, will be a designated market maker to boost exchange liquidity and facilitate trading at competitive bid and offer prices. The goal of HGX is to provide an equitable trading platform by bringing operational transparency, fair competition, and cost efficiency to the private capital markets. Currently, participation and trading in HGX are open to professional, expert and accredited clients of member firms, which currently includes over 500,000 investors globally. This platform ecosystem will continue to grow as more member firms are added, enhancing access to invest in companies and private assets with high growth potential. They said that thirteen different financial instruments have been successfully listed with a total average monthly trading volume exceeding US$500,000 in the last six months. Looking to the future, HGX has built a product pipeline of capital market products, with funds, loans, luxury assets, and real estate under evaluation for future listing. HGX also plans to onboard more member firms, expanding the overall marketplace and ecosystem. The exchange has also appointed Eric Neo Say Wei as President and promoted Willie Chang from Chief Operating Officer (COO) to Chief Executive Officer (CEO) to drive HGX’s business growth in Asia. Willie Chang “We want to build a strong marketplace where investors can access everything from equities in high-growth companies, funds, and loan products to more unconventional financial products such as high-end luxury goods like art, wines and whiskies. Hg Exchange is a venue designed to make these financial products accessible to a broad investor base.” said Willie Chang, CEO of HGX. Eric Neo Say Wei “The financial landscape has evolved at a rapid pace in the last decade as we now look to democratising private fundraising and investments for companies. Family offices, high-net worth individuals, investment managers, pension funds, sovereign wealth funds and wealth managers are seeking inroads into alternative investments. This has positioned HGX squarely in the center of this exciting revolution. ” said Eric Neo Say Wei, President of HGX. Featured image: (From left) Willie Chang, CEO of HGX and Eric Neo Say Wei, President of HGX SnapSwap, a provider of digital transformation services for financial services and businesses, has reportedly chosen Banking Circle to offer quicker and lower-cost payments to its clients. By leveraging Banking Circle ’s Payments on Behalf of (POBO) and Collections on Behalf of (COBO) services, SnapSwap will see enhancements to settlement times, reconciliation, and transaction processing. SnapSwap has an established track record in developing all-digital platforms for onboarding and supporting Know-Your-Customer KYC technologies. SnapSwap holds a Principal Mastercard Membership which enables the issuing of credit and debit cards and processing of digital transactions. Its easily accessible SME banking platform, Everest™, facilitates instant account opening and supports online current accounts, multiple credit cards and automated expense management. Denis Kiselev, CEO at SnapSwap, stated: “Being an entrepreneur myself, I am all-too aware of the difficulties of setting up companies, opening accounts and getting corporate credit cards. We launched SnapSwap and Everest to support SMEs and start-ups right from day one, providing them with the necessary financial tools to grow their businesses.” Denis added: “Our vision is to enable business owners to focus on their products and clients while we take care of the rest, and Banking Circle POBO and COBO provide us with an important component in our financial infrastructure to achieve that goal. It is a modern, automated solution which means our customers benefit from faster, smoother payments and reconciliation. Importantly, the partnership with Banking Circle also means we gain higher scalability opportunities and services that are not available through traditional banks.” Banking Circle POBO and COBO aim to address the compliance and reconciliation issues typically faced in the international B2B payments ecosystem. Traditionally, B2B payments were received in the name of the payments business or bank instead of the actual customer. This may lead to reconciliation problems, which then might result in considerable delays in settlement, thus potentially affecting cash flow. The Banking Circle services aim to address these pain points by allowing financial institutions to provide immediate visibility of the sender’s details when handling B2B transactions, and to obtain funds domestically into accounts in the actual client’s name. Anders la Cour, co-founder and CEO at Banking Circle, remarked: “Utilizing Banking Circle’s unique financial infrastructure, POBO and COBO provides SnapSwap with an optimized end-to-end payment solution and visible, Wire Transfer Regulations compliant, payment chain. SnapSwap clients benefit from smoother, faster reconciliation through dedicated multi-currency Virtual IBANs in multiple jurisdictions. Crucially, SnapSwap no longer needs to rely on the slow, costly and outdated correspondent banking network or invest in building its own solution.” India is witnessing a spurt in the growth of Fintech, aiming at improving the banking experience for millions of blue-collar workers who universal lenders often ignore. These fintech startups that like to call themselves neo-banks have suddenly become the most sought after by domestic and global investors. One such Fintech is Bueno Finance that has raised $3 million in a seed round from a clutch of investors, including Goat Capital, JAM Fund, Olive Tree Capital, Good Water Capital, and others from Silicon Valley. The funding round also witnessed the participation of angel investors such as Kunal Shah, founder of credit card bill payments platform CRED, and others. Founded by Saurav Gandhi and Sandeep Arora in late 2019, the Y Combinator-backed startup is a credit-focused neobank for India’s middle and lower-middle-income segment. The startup plans to use the funds to expand its product offerings and hiring activities. “Only 10 percent of the formal credit (mostly secured) goes to 45 percent households of India earning approximately $200-$400 a month. Bueno Finance wants to democratize credit along with other financial services to this massive segment,” Gandhi said in a statement. Kosh is another Indian fintech backed by Y Combinator, likely to raise its seed round early next week to serve the massive demand for credit from this segment where an average worker earns anything between $150-$300 per month do not fall under a formal job sector. Kosh  has a unique model, based on the lines of traditional microfinance companies, wherein the startup groups from a minimum of three to a maximum of six such blue-collar workers and gives them a loan. It is an app-based digital lender wherein one of the users raises a lending request and adds other group members from his/her contact list, thus ensuring that everyone repays on time. It is the first-of-its-kind of community financing app that lends about $260 per user on average for a period of 10 months at a 33% interest rate. However, forming a group to avail of loans brings down the cost substantially. The company doesn’t lend to any individual borrower. Founded by Aaysuh Goel and Sahil Bansal in March 2019, Kosh had so far disbursed over $500k worth of credit to about 2000 borrowers since January last year. However, the pandemic-triggered moratorium had slowed down the overall demand for credit. Talking to Crowdfund Insider, Goel said,” With vaccines in place and no major nationwide lockdown, the credit demand is likely to grow. As a result, the overall market size (AUM) for the blue-collar credit segment is likely to double at $60 billion by 2025, growing at a 20 percent annual rate, and Kosh is aiming to grow by 20x by the end of next year as the worst is behind us.” The Noida-based Kosh uses alternative data such as bill payment, phone recharge, and other utility bills from text messages to determine the creditworthiness of a person. Some of the other players in the segment are PerkFinance and PhoneParLoan. Stash, the subscription platform that aims to empower middle-class America to build wealth via innovative investing and banking products, has acquired PayGrade, a financial literacy platform assisting students with adopting healthy financial habits. As mentioned in an update shared with CI, the addition of PayGrade aims to deepen Stash ’s commitment to education “following its 100% surge in revenue over the past 12 months.” Brandon Kreig, CEO and co-founder at Stash, stated: “Stash’s first acquisition is directly aligned with our mission of empowering everyday Americans to invest for the future. Forty-four states do not require standalone personal finance courses in high school, and 80% of people live paycheck-to-paycheck. With PayGrade, Stash will provide teachers, parents, and children with interactive tools to learn effective money management skills that will last a lifetime.” PayGrade has been designed to provide K-12 administrators and teachers with an “immersive” personal finance curriculum specifically developed around “simulated” banking and investing. The platform experienced a lot of demand during remote learning. In its next phase of growth under Stash, the business will “quickly expand to include digital tools for parents to teach and reinforce money skills at home,” the announcement revealed. The release also mentioned that Stash, which secured $125 million in February 2021, has over 6 million clients and $3 billion in AUM. For “as little as $1/month,” Stash aims to build “long-term, diversified” investment portfolios that are supported by “personalized” advice and “robust” educational tools. Janessa Boulay, Co-founder of PayGrade, remarked: “We’re thrilled to join Stash. Together, our platforms will make it possible for millions of children and families to more easily navigate the complex worlds of business, banking, and investing in a safe space—giving the next generation the hands-on education they need to advance and achieve financial equity.”  Ian Chiu, MD at Owl Ventures, the largest venture capital firm focused on investments in education and upward mobility, including Stash, added: “Financial literacy is a foundational requirement to achieve a stable financial future. With PayGrade’s quality curriculum and engaging digital educational tools, Stash will be able to help students acquire critical knowledge and skills in partnership with teachers and parents.” Parents and teachers who might be interested in learning more or getting early access to the new home version of PayGrade—which will be called Stash101—are able to join the wait list. As previously reported, Stash is the first subscription platform “empowering middle-class Americans to invest and build wealth.” Stash’s plans—starting as low as $1/month—”provide easy and affordable access to a suite of products including investing, banking, education, and advice.” Stash is “one of the fastest-growing financial technology companies in the U.S. with more than 6 million customers,” the announcement noted.

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SnapSwap Rank

  • When was SnapSwap founded?

    SnapSwap was founded in 2015.

  • Where is SnapSwap's headquarters?

    SnapSwap's headquarters is located at 59, Boulevard Royal, Luxembourg City.

  • What is SnapSwap's latest funding round?

    SnapSwap's latest funding round is Incubator/Accelerator - III.

  • How much did SnapSwap raise?

    SnapSwap raised a total of $150K.

  • Who are the investors of SnapSwap?

    Investors of SnapSwap include Bankia Fintech, MasterCard Start Path, ING Labs Brussels, Techstars and BBVA Open Talent.

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