Swappit is built on trust and verified transactions: escrow-protected payments, IMEI-checked devices and built-in dispute resolution for a market where fraud is the norm.
Scams are widespread across Nigerian online marketplaces, and neither side is protected when a deal goes wrong.
Unverified sellers often list counterfeit or stolen phones.
Buyers have no recourse when transactions go wrong.
Sellers face payment issues and delivery disputes.
Simple, secure, transparent. Money is held via a licensed Microfinance Bank until the buyer confirms delivery.
Escrow via a licensed Microfinance Bank (Piggyvest) until delivery is confirmed.
IMEI checks ensure device authenticity.
A mediation team handles conflicts fairly.
Funds held securely in escrow.
Both parties set up a meetup.
Phone verified on arrival.
Payment completed or refunded.
Nigeria’s mobile market continues to expand rapidly, and most devices traded are pre-owned. Lagos, a high-density urban center, is the entry point.
Online platforms are expanding across Nigeria, with rising adoption of digital commerce.
As online shopping increases, so does the need for trusted transaction platforms.
Mobile money and digital wallets are becoming mainstream, enabling secure transactions.
Revenue is earned on every completed, protected sale.
₦2,000 + 1%
Of the phone cost, capped at ₦5,000, on every completed sale.
Premium verification for high-value devices.
Premium placement for better visibility.
| Platform | Gap |
|---|---|
| Jiji | No payment protection or escrow service |
| Facebook Marketplace | High fraud rates with minimal verification |
| Offline markets | No guarantees or dispute resolution |
| Swappit | Escrow protection + device verification + built-in dispute resolution |
100+ signups on our early access waitlist ahead of launch.
Active recruitment and verification of trusted sellers in the Lagos market.
Core platform features under active development, with escrow integration.
Ex-Fuspay
Ex-Interswitch, UBA
Ex-Microsoft
Three priorities to launch and scale the marketplace in Lagos.
Build and harden the core escrow and verification platform.
Recruit and verify sellers in Lagos, acquire initial buyers, run targeted marketing campaigns, and build a reliable supply of quality used phones.
Establish a Legal & Compliance arrangement, customer service and dispute resolution operations
Raising at least $100K to launch and scale in Lagos.
Funds go to product & engineering, seller acquisition and legal, compliance & operations(details above).