Swipely, a Rhode Island-based mobile payment platform, has received USD12m in a Series B funding round led by Shasta Ventures with participation from existing investors First Round Capital, Greylock Partners and Index Ventures.
Swipely, which launched in 2009, claims to manage over USD700m per year in sales for companies in 130 cities across the US. Swipely will use the new funding to expand its network of US merchants.
“Swipely replaces legacy merchant payment and marketing approaches with a powerful online operating system for local commerce to make smarter, faster business decisions,” said Angus Davis, founder and CEO of Swipely. “We empower hundreds — and soon thousands — of leading small businesses with actionable insights to help them succeed and grow.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.