SwiftVEE Raises $10.1M Series A to Expand Fintech Offerings in African Livestock Trade

South African agritech firm SwiftVEE has successfully secured R173 million ($10.1 million) in a Series A funding round, signaling a strategic shift to expand beyond its core livestock marketplace and integrate deeper into financial services. The fresh capital is earmarked for layering fintech, insurance, and data products onto its trading platform, moving the company from simply providing market access to capturing value within the transaction. Founded in 2019, SwiftVEE digitizes the traditional livestock auction process, now facilitating over $100 million in gross merchandise value (GMV) annually across several African nations. The investment round was strategically backed by African VC firm HAVAÍC and private equity firm Exeo Capital, along with the significant participation of Iain Williamson, the former CEO of insurance giant Old Mutual, whose involvement strongly signals the company’s insurtech ambitions. This strategic investor mix supports CEO Russel Luck’s vision that by controlling the transaction and the resulting data, SwiftVEE can offer credit and insurance—services historically difficult for traditional banks to provide to the agricultural sector. The deal highlights the broader trend across African tech where successful vertical marketplaces are transitioning from providing access to financing the trade to become comprehensive platform plays.