Swipely is a payment marketing startup that has raised $12 million in Series B. Swipely was founded by Angus Davis, the founder and CEO of TellMe, a company that was acquired by Microsoft. This is the first round of funding that Swipely raised since the company moved from allowing users to share credit card purchases with friends to working on a payments, loyalty, and marketing model.
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Based in Rhode Island, Swipely is startup that lets users manage customer loyalty programs through credit card purchase data. The company has announced two new features, which includes the ability to measure marketing campaigns and manage online reputation.
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WePay, a startup where groups of people manage financial accounts has just raised $1.65 million in their first round of funding. August Capital and several angel investors were involved in the WePay funding. WePay can be used for invoice production, money collection, and transaction management.
WePay was founded by Boston College students Bill Clerico and Rich Alberman. The company has been moved to Silicon Valley ever since and has moved into Palo Alto’s University Avenue where Facebook used to be based. Interestingly WePay’s founders had a hard time finding funding out in Boston. The investors in Boston said that they were too much in the early stages. Y Combinator ended up accepting WePay.
WePay makes money by taking 3.5% from every transaction, similar to the PayPal business model. WePay is starting by partnering with small companies and professional groups. Some of the angel investors include Max Levchin (PayPal co-founder), Paul Buccheit, Ron Conway, Mark Goines, Angus Davis, Andrew McCollum, and Joe Campanelli.