Irish fintech Swoop has raised $6 million from Sandbox Industries to accelerate its expansion in the US market. The funding will support Swoop’s mission to connect small and medium-sized enterprises (SMEs) with loans, grants, equity funding, and savings opportunities across its existing markets, including the UK, Ireland, Australia, South Africa, Canada, and the US.
Swoop CEO Andrea Reynolds emphasized the strategic importance of the investment, stating, “We’re proud to welcome Sandbox Industries as a strategic investor. Their expertise in insurance and financial services will be instrumental in fuelling our US expansion, helping us bridge the $1.2 trillion SME financing gap and deliver innovative funding and insurance solutions to small businesses.”
Founded in 2017, Swoop positions itself as a one-stop platform for SMEs seeking the most cost-effective funding sources. As part of its US expansion, the company has strengthened partnerships with major SME service providers such as JustWorks, Flippa, and Sage to deepen its market presence.
Reynolds describes the investment as a “pivotal moment” for the company, stating, “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.” With the backing of Sandbox Industries, Swoop is set to enhance its offerings and make a stronger impact in the SME funding landscape.