Swish raises $24M in extended Series B as late-stage funding cools

Bengaluru-based quick-commerce startup Swish has raised Rs 224.54 crore (approximately $24 million) in an extended Series B round led by Bertelsmann India. The round follows a $38 million Series B raise in March, which was led by Hara Global and Bain Capital Ventures.

The funding arrives as late-stage startup investment in India continues to decline. Inc42 reported that Indian startup funding stabilised in the third quarter, but investor appetite has split sharply, with growth-stage deals now outpacing late-stage rounds for the first time in two years. Earlier StartupReader coverage showed late-stage funding dropping 38% year-on-year in 2025-26, with the number of rounds exceeding $100 million also falling.

Swish’s latest raise reflects a broader shift in investor focus toward earlier-stage companies, even as larger deals become rarer. The quick-commerce segment appears to retain investor interest, though the sector’s long-term funding trends will depend on broader market conditions.

Sources: inc42.com