From an idea to 30 000 Packages a Month: The Swotzy Story

Latvian company Swotzy is a modern and easy-to-use logistics platform providing businesses a place to compare the delivery options offered by various courier services and choose the best solution. The users of the platform do not need to conclude individual contracts with each delivery service as Swotzy takes care of this for them. This makes the platform especially useful for small businesses exporting their products abroad – through the platform they can get delivery costs that are usually only available to large market players.

Founded in 2022, Swotzy has quickly become one of the fastest growing companies in the industry. Its customer portfolio consists mainly of companies throughout the Baltic States; today users of the platform send around 30 000 packages a month to more than 120 countries around the world. The company has estimated that its annual turnover this year will reach five million euros.

Due to its rapid growth, Swotzy has taken advantage of various state support tools. Shortly after its foundation, Swotzy joined the business incubator established by the Latvian Investment and Development Agency (LIAA) in Liepāja, and the company has also used the labour tax reliefs for start-ups and has obtained co-financing for the development of the platform and website.

“I only have praise for state support. At first, the application processes seemed deceptively difficult, but the team at the Liepāja business incubator was wonderfully helpful, provided advice and helped us deal with all the practicalities. Looking back, I can safely say that in the beginning everything seemed much more complicated than it turned out to be. That is why my advice to other businesses is to not be afraid and take advantage of the opportunities offered,” Lauris Rutkis, co-founder of the company, says.

The company has especially appreciated the labour tax relief which allowed it to grow its team, and thus also the business, at a quicker pace. “More than 95% of Swotzy’s success has come at the hands of our people. Tax reliefs allowed us to bring in talented specialists and expand our team which significantly sped up the company’s overall development,” Mr Rutkis highlights.

This article has been produced with financial support from the European Regional Development Fund.