SwipeSum is the first online marketplace for credit card processing. We help businesses of all sizes find the best payment processing solution for their unique business and negotiate lower rates on their behalf, totally free of charge.
In 2012, Michael Seaman took a job at a major credit card processor. During his sales training, Seaman realized that the company — and the industry in general — didn’t care much about business owners. Instead, they taught him how to hide fees and lock businesses into bad contracts.
Seaman recognized that the payment processing industry needed to change, but it wasn’t until 2016 that he understood how. Following the model of major online services like Kayak and Hotels.com, Seaman created SwipeSum, a marketplace for credit card processors. Rather than leaving business owners at the mercy of their local bank or processing salesperson, SwipeSum would empower them to choose payment processing solutions from a wide variety of providers that fit their unique needs.
After enlisting the help of his brother Stephen, Seaman relocated SwipeSum to St. Louis and began working on the venture full-time. The Seaman brothers quickly found success in their new home, raising $1.5 million from local angel investors and bringing on 12 full-time employees in their first 18 months.
Back Row (left to right): Cannon Elkins (Business Development Manager) Holly Rosenbalm (Executive Assistant) Blake Higdon (Director of Strategic Partnerships) Stephen Seaman (Co-founder, Chief Operating Officer) Natasha Peebles (Director of Operations) Trent Epple (Director of Partnership Development) – Front Row (left to right): Macey Speer (Director of Account Management) Sam Elkins (Product Manager) Erin Rose (Director of Customer Success) Taft Anderson (Chief Marketing Officer) Michael Seaman (Co-founder, Chief Executive Officer)
“St. Louis has been the perfect home for us,” says CEO Michael Seaman. “Most of my friends in LA thought I was insane for moving my startup to the midwest, but I can’t imagine doing it any other way.
There is so much untapped potential in this market — with people, with capital, and with resources — and I’m thrilled to participate in the building up of this great community.”
Since joining the St. Louis startup community, SwipeSum has received numerous accolades, including an Arch Grant and multiple Future 50 awards. Its founding team has also offered assistance to budding entrepreneurs through various Arch Grants, ITEN, and EQ STL programs.
Looking forward, SwipeSum plans to stay and continue growing in downtown St. Louis. “This city has given so much to us,” Seaman explains, “we want to give back as much as we possibly can. St. Louis is it, baby!”
