This funding will drive Swoop’s Lagos expansion strategy, deepen merchant partnerships, and build toward a larger share of everyday digital consumer spend over time.
Swoop today announced it has raised $7.3 million from Long Journey, Variant, Version One, Dune Ventures, Soma Capital, Zero Knowledge Ventures, Walter Kortschak, Base Capital, and other investors. The funding will support the company’s expansion in Nigeria as it builds a faster, more affordable, and more transparent consumer platform, starting with food delivery.
Swoop is entering a Nigerian delivery market that has grown rapidly in recent years and now serves millions of consumers. The company sees significant room to build on that foundation with a platform focused on affordability, transparent pricing, and reliably fast delivery. Swoop’s pricing algorithm reflects this mission. Currently, 100% of Swoop’s delivery fees go directly to its riders, with the company charging a 7% service fee to cover operations. While food delivery is the first category, Swoop’s longer-term ambition is broader. The company aims to become a larger part of users’ everyday wallet spend and digitally enabled consumption over time through an integrated commerce ecosystem designed for African cities.
Nigeria represents one of the continent’s most compelling digital consumer opportunities. Lagos alone is home to more than 20 million people, with a fast-growing food economy, maturing and growing smartphone adoption, and proven demand for convenience-led services. As more commerce shifts online, Swoop sees a major opportunity to build a category-defining local platform.
The company says the raise will also help accelerate merchant acquisition, strengthen brand visibility with consumers, and establish Swoop as a serious long-term player in one of Africa’s most important markets.
“Nigeria is one of the most exciting places in the world to be building right now. Demand for food delivery and digital commerce is growing fast, and there’s a real opportunity to build a platform that’s reliable and affordable for everyone. We’re here to build one,” said Aubrey Niederhoffer, Founder and CEO of Swoop
“Lagos is one of the most demanding consumer markets in the world. If you can build something people trust here, you can build it anywhere on the continent. Our goal is to win by pairing fair pricing with better experience for everyone, ensuring that users pay only what’s necessary for exceptional service. This raise gives us the runway to earn that trust with customers, merchants, and riders, and to do it properly,” said Demola Adesina, Country Manager, Nigeria at Swoop.
