Swoop Raises $7.3M Seed for African Super App Expansion

Swoop, an Eswatini-based startup, has successfully closed a $7.3 million seed funding round, signaling a significant push into the Nigerian market with its ambitious super-app strategy. This substantial seed capital injection, one of the largest for an African consumer-focused startup at this stage, will fuel the development of its consumer platform, beginning with a strong emphasis on food delivery.

The funding round saw participation from a notable group of Silicon Valley investors, including Long Journey, Variant, Version One, Dune Ventures, Soma Capital, and Zero Knowledge Ventures. Additional backing came from prominent figures such as Walter Kortschak and Base Capital. This investor confidence underscores the potential perceived in Swoop's vision to evolve beyond its initial food delivery service into a comprehensive digital ecosystem.

Nigeria's food delivery sector, valued at an estimated $1.1 billion in 2025 and experiencing rapid growth—reported at 187% between 2021 and 2024 by Nigerian payment processor Paystack—presents a fertile ground for Swoop's expansion. Demola Adesina, Swoop's Nigerian country manager, highlighted that the market is significantly under-penetrated, with a substantial opportunity to convert non-users rather than solely competing for existing customers. "We are trying to grow the pie," Adesina stated, emphasizing a strategy focused on expanding the overall market rather than engaging in direct price wars with established players like Chowdeck, Glovo, and FoodCourt.

Swoop's approach to building a super app, which aims to integrate services like food, groceries, and rides, acknowledges the inherent complexity and capital requirements. "It’s super hard to build a super app, and our investors recognise that. They recognise that you need a bit of runway and foundation to be able to do the things that you need to do operationally," explained Adesina. The company, formerly known as Thumo, initially launched in Eswatini in August 2025, quickly acquiring 6,000 users in its first month, demonstrating early traction for its model.

The strategic choice of food delivery as the initial vertical is a calculated move to cultivate daily user engagement, a critical driver for super-app success. This mirrors strategies seen in other markets, where platforms leverage essential services to build habitual usage before diversifying. While acknowledging the challenges and past failures in the Nigerian food delivery space, such as Jumia Food's operational losses, Swoop aims to differentiate itself by focusing on user acquisition and market expansion rather than aggressive discounting. The company operates with a network of independent riders, generating revenue through restaurant commissions and customer service fees, with a 7% service charge applied to operations.

The Nigerian market presents unique opportunities, with Adesina noting increased confidence in regulatory environments and a growing consumer appetite for digital services. Swoop's success will hinge on its ability to scale beyond initial urban centers like Yaba, develop a sustainable monetization strategy, and effectively introduce subsequent service verticals based on user demand, thereby solidifying its position as a key player in Africa's digital economy.