Swapin.com

What Swapin.com does

Swapin is an EU-licensed crypto-to-fiat payment gateway operated by Estonian company Ungaro LLC and headquartered in Tallinn. Founded in 2017, the platform enables merchants to accept cryptocurrency payments (including Bitcoin, Ethereum, and stablecoins) while receiving EUR, GBP, or USD directly in their bank accounts, with instant conversion eliminating volatility exposure on the merchant side. The core technical stack includes a 30-minute locked exchange rate mechanism, named IBAN issuance for transparent business settlement, and both a zero-integration payment link product (SwapinCollect) and a fully documented API for embedded use cases. Performance figures cited include 95% of transactions settled in five minutes or less. The company also offers individual-facing products (SwapinBuy, SwapinGet, SwapinPay) and a white-label Widget for Web3 platforms.

Revenue is generated primarily through transaction-based fees ranging from 0.2% (SwapinGet) to 1.35% (SwapinBuy/Pay), with merchant-side SwapinCollect transactions structured so the payer covers costs rather than the merchant. Pricing is tiered by transaction volume, with high-volume SwapinCollect rates as low as 0.8%. Go-to-market is sales-led and event-driven in high-value verticals—luxury goods, automotive, aviation, yachting—supplemented by self-serve SMB onboarding through app.swapin.com and an affiliate program (SwapinPartner). Distribution is anchored by memberships in the World Luxury Chamber of Commerce and the Mastercard Lighthouse Finitiv program (Spring 2023 cohort), alongside a self-service content marketing and SEO funnel.

The company's customer base spans Estonia, Latvia, Malta, Switzerland, Finland, France, Italy, and the UK, with named logos across SMB (Mobile Autokeskus, Villa Yachting, EfoilRiga, e-Jewels) and mid-market/enterprise (HBL, Altinium, Finer Aviation, Ragnarök Group) accounts. Total disclosed funding is approximately $2M, headcount is in the 11-50 range, and revenue is not publicly disclosed. Regulatory standing includes Estonian FIU license FVT000088 and independent audits by Grant Thornton.

Name

Swapin.com

Legal name

Ungaro LLC

Website

https://swapin.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Swapin is an EU-licensed Estonian crypto-to-fiat payment gateway enabling merchants to accept cryptocurrency and receive EUR, GBP, or USD directly in their bank accounts, serving primarily luxury, automotive, aviation, and yachting SMBs and mid-market businesses across Europe.

Ownership category

akta.pro rank

Product category

Crypto Payment Gateway

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Crypto Payment Gateways & Checkout APIs (FSADAIAA)

akta.pro secondary industries

Settlement, Reconciliation & Merchant Treasury Tools (Crypto) (FSADAIAK), Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO), Invoice, Billing & Subscription Payments (Crypto) (FSADAIAG)

Keywords

• Crypto payment gateway
• Crypto-to-fiat conversion
• Merchant crypto payments
• Stablecoin payment gateway
• Embedded crypto on-ramp

Headquarters

HQ city

Tallin

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. SwapinCollect Transaction Fees: Transaction fee-based model where merchants accept crypto payments and receive EUR. Fees are passed to the payer (customer covers transaction costs), with rates as low as 0.8% per transaction for business accounts.
2. SwapinBuy/SwapinGet/SwapinPay Fees: Tiered fee structure for individuals and businesses buying, selling, or paying with crypto. Ranges from 0.2% (SwapinGet) to 1.35% (SwapinBuy/Pay) with minimum fees of 2.95 EUR
3. SwapinWidget API Licensing: White-label/embedded solution for Web3 platforms to integrate crypto on/off-ramp functionality
4. Affiliate Program Revenue Share: Revenue share program where business clients earn by introducing others to Swapin

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels9 records

Core offering

Swapin is an EU-licensed crypto-to-fiat payment platform that enables merchants to accept cryptocurrency payments and receive EUR, GBP, or USD directly in their bank account, with instant conversion eliminating volatility risk. For individuals it offers SwapinBuy, SwapinGet, and SwapinPay to purchase, sell, and pay with crypto via bank transfer. For Web3 platforms it provides the SwapinWidget white-label on/off-ramp API for embedded crypto purchases within third-party apps.

Product overview

Swapin is a multi-product crypto-to-fiat payment platform offering solutions for both businesses and individuals. The core business product is SwapinCollect (payment links and API), which enables merchants to accept crypto payments and receive fiat directly. For individuals, the platform offers SwapinBuy (buy crypto), SwapinGet (sell crypto to bank), and SwapinPay (pay invoices with crypto). Additional offerings include SwapinWidget for Web3 platform integration and SwapinPartner affiliate program. All products feature EU-licensed operations, instant crypto-to-fiat conversion, and support for major cryptocurrencies including Bitcoin, Ethereum, USDC, and stablecoins.

Differentiator

Problem solved

Functional benefit

Brands

• SwapinBuy: Buy crypto directly from bank account - individual service for purchasing cryptocurrency
• SwapinGet
• SwapinPay
• SwapinCollect
• SwapinWidget
• SwapinPartner

Products and services

• SwapinCollect Primary crypto-to-fiat payment gateway that lets merchants accept Bitcoin, Ethereum and other cryptocurrencies from customers and receive EUR, GBP or USD directly in their bank account with instant conversion and no volatility risk. Supports both a zero-integration payment link and a fully customizable API.
• SwapinBuy Individual service that allows users to buy cryptocurrency directly from their bank account, with fees starting at 1.35% and decreasing for higher volumes, plus variable network fees based on blockchain.
• SwapinGet Individual service that lets users sell their cryptocurrency and receive fiat currency (EUR, GBP) directly in their bank account, with a flat fee of 0.2% from 5 EUR up to unlimited transaction size.
• SwapinPay Service that lets users pay any invoice with cryptocurrency while the recipient receives fiat in their bank account, with exchange rates locked for 30 minutes to protect against volatility.
• SwapinWidget White-label, embeddable crypto on-ramp and off-ramp solution for Web3 projects and platforms, allowing end users to buy and sell crypto directly within the host application via API integration.
• SwapinPartner Affiliate Program Revenue-sharing affiliate program that lets existing business clients earn by introducing new businesses to Swapin's crypto payment solutions.

Quantifiable outcome

• 95% of crypto-to-fiat transactions processed in 5 minutes or less
• +3 more outcomes

Named customers14 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• World Luxury Chamber of CommerceminorOthersMembership in industry association providing networking opportunities and credibility positioning within the luxury goods and services ecosystem.
• Mastercard Lighthouse FinitivcoreOthersActive participation in Mastercard's fintech accelerator program since Spring 2023, winner of People's Choice Award. Provides ecosystem access, credibility, and potential partnership opportunities with Mastercard network.
• GAN (Global Ad Network)minorOthersMembership in GAN ecosystem indicating partnerships within the broader fintech and payments community.
• Crypto ValleyminorOthersMembership in Crypto Valley ecosystem, the recognized hub for blockchain and crypto innovation, indicating industry positioning.
• Eesti Krüptoraha Liit (Estonian Crypto Association)minorOthersMembership in Estonian Cryptocurrency Association, the local industry body for crypto businesses in Estonia.
• StartupYardminorOthersMembership in StartupYard, a prominent Central/Eastern European tech accelerator and investor network.
• Estonian Chamber of Commerce and Industry (Koda)minorOthersMembership in the Estonian Chamber of Commerce and Industry, the main business organization representing Estonian companies.
• Grant ThorntoncoreTechnology or IntegrationIndependent audit partner providing financial and security audits, lending credibility and regulatory trust to Swapin's operations.

Scale indicators7 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• CoinGate: CoinGate is a Lithuania-based crypto payment gateway offering merchant checkout, billing, and crypto-to-fiat conversion. It is the most direct competitor — explicitly named by Swapin's customer Ragnarök Group as the alternative considered. Overlap is near-total on product, customer type (merchants) and crypto-to-fiat value proposition.
• NOWPayments: NOWPayments is a non-custodial crypto payment gateway serving merchants globally with invoice tools, mass payouts and 200+ coin support. Directly comparable to SwapinCollect on merchant checkout, fees and target SMB/enterprise merchants accepting crypto.
• Alchemy Pay: Alchemy Pay (ACH) operates a hybrid crypto-fiat payment network with on/off-ramp and merchant checkout across 70+ countries. Highly comparable to Swapin's SwapinCollect plus SwapinWidget stack, with stronger geographic coverage but more token-focused positioning.
• Transak: Transak provides a global on/off-ramp API and embedded widget for Web3 platforms, enabling users to buy and sell crypto via local payment methods. Directly comparable to Swapin's SwapinWidget product and shares the same developer-first API distribution model.

Broad incumbents

• Coinbase Commerce: Coinbase Commerce is the merchant payment arm of Coinbase, offering crypto checkout and USDC settlement to global merchants. Functions as a broad incumbent competing for the same merchants as Swapin, with deeper liquidity, brand and regulatory footprint in the US.
• BitPay: BitPay is one of the longest-standing crypto payment processors, providing merchant checkout, crypto-to-fiat settlement and a BitPay Card. Targets the same merchant verticals as Swapin and represents an established incumbent alternative.
• Binance Pay: Binance Pay is the payment arm of Binance enabling crypto payments between Binance wallet users and merchant settlement. A broad incumbent with massive user reach that competes for the same merchant relationships, particularly in luxury and cross-border use cases.
• Circle: Circle (issuer of USDC) provides merchant and developer payment infrastructure including programmable USDC settlement. Relevant as a stablecoin-native competitor that could attract Swapin's luxury merchant base directly into USDC rails without a conversion gateway.
• Ripple: Ripple (via Ripple Payments / ODL) provides cross-border crypto-to-fiat settlement for financial institutions and high-volume corridors. Comparable as a broad incumbent competing for the same cross-border luxury, aviation and high-value transaction flows that Swapin serves.

Emerging players

• BTCPay Server: BTCPay Server is an open-source, self-hosted crypto payment processor popular with technically-inclined merchants and Web3 projects. Competes with Swapin on merchant-side crypto acceptance, particularly for users wanting non-custodial, lower-fee infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/swapincom
• Facebookfacebook.com/swapincom
• LinkedInlinkedin.com/company/swapincom

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Swapin.com