Swipely Launches with $7.5M

Providence, RI-based Swipely, which aims to let consumers share information about purchases with people in their social networks, has launched an invitation-only beta version of its service and collected $7.5 million in Series A venture funding, the startup announced today. Index Ventures, Greylock Partners, First Round Capital, and a group of angel investors participated in the round, which brings the company’s total funding to $8.5 million. Information about users’ credit- and debit-card purchases gets imported automatically to the Swipely site, where their friends can see and comment on it. CEO Angus Davis says in a statement that the service, which competes directly with Silicon Valley-based social spending site Blippy, “will transform everyday purchases at restaurants, movies or online retailers into conversations with friends, personalized recommendations and opportunities to save money.”

Wade Roush is the producer and host of the podcast Soonish and a contributing editor at Xconomy. Follow @soonishpodcast

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