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St. Louis based SwipeSum raises $1 million

SwipeSum is a St. Louis based startup that uses technology to discover better merchant processing options for businesses.

The technology is premised on identifying lower rates for merchant processing and creates an auction for merchant processers to bid on the work at businesses.

The company was formed in 2016 by brothers, Michael and Stephen Seamen. The brothers have sales backgrounds but discovered the challenge of merchant processing and decided to transform the $900 billion payments industry. Michael Seaman, the CEO, moved to St. Louis (at his brother’s urging) from Los Angeles, where he had a professional sales role.

SwipeSum raised $1million according to SEC filings on December 11, 2018. The firm plans to use this new capacity to expand its product and personnel.

For more information about the firm, check them out at www.swipesum.com

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