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SwiftVEE, described as Africa’s largest online livestock trading platform, has successfully closed a Series A funding round. However, deployment of the new capital depends on finalizing key opportunities in its pipeline.
Since launching its digital livestock auction marketplace in 2019, the South African agritech company has grown into a leading force in the continent’s livestock trade, valued at multibillion-rand levels.
This latest funding round brings significant new support from investors.
New backers include former Old Mutual CEO Iain Williamson, African venture capital firm HAVAÍC and private equity firm EXEO Capital.
They join existing shareholders such as fund managers Mike Kirsten and Carlo Dickson, alongside private investment vehicle Zire Africa.
The capital raise of about US $10–10.1 million) will support SwiftVEE’s plans to expand into additional markets across Africa, while also building out fintech, insurance, and data-services capabilities on top of its auction platform.
Currently, SwiftVEE handles over US $100 million in livestock and game trades annually, conducted via hundreds of auctions each year.
Its operations already span several Southern African countries — including South Africa, Namibia, Botswana, Zimbabwe and Zambia — and serve a global pool of buyers through syndicates based in North America, Europe, the Middle East, Asia and Australia.
According to CEO Russel Luck, SwiftVEE’s technology bridges fragmented livestock value chains, enabling buyers to purchase online while accessing additional services like digital financing, insurance and data analytics.
He noted that the same approach could be extended to other industries facing similar structural challenges.
Beyond its main livestock marketplace, SwiftVEE also runs two related platforms: Auctionapp.IO, a white-label auction platform for non-agricultural assets, and PrysWys — an online marketplace for agricultural inputs.
Earlier this year, the company revealed a fintech partnership with South African bank Nedbank, signalling its ambition to embed financial services across its offerings.
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