Swappel.com, an online local marketplace where people can buy, trade and sell their items or services, announced the closing of its fifty thousand dollar Series A seed funding round.
Bedford, TX -- (SBWIRE) -- 08/22/2012 -- Swappel.com, an online local marketplace where people can buy, trade and sell their items or services, announced the closing of its fifty thousand dollar Series A seed funding round.
The company was founded in late 2011 after founder Dillon Scott began buying, selling, and trading on Craigslist to pay the rent. Not only was it fun, but he was also able to get the things he needed when he was low on cash. However, the process was complicated and time-consuming having to e-mail so many people in hopes of finding someone that wanted to trade. After seeing those around him struggling in a poor economy, he set out to simplify the process and build something that could help others going through a difficult time.
Bridging the gap between new and old forms of commerce, Swappel will allow people to practice all forms of exchange in one place. People that have money and those that don’t can use Swappel to find the things they need and want within their local communities, making it both easy and fun!
Staying true to the spirit of saving money, the team was hesitant to accept any type of funding. They changed their mind though, when the right funding partner came along. In negotiations with a private investor, they were able to agree on an intended small amount of fifty thousand, which will be more than enough to cover their launch to Dallas.
Co-founder and former software engineer for Yodle.com, Eric Dyoniziak, comments saying, “Our seed funding will allow us to run our beta on the cloud, positioning us to be able to scale to any demand. That’s all sorts of cool."
Swappel.com plans to launch their beta exclusively to the DFW Metroplex in the fall of 2012. To sign up and share go to http://swappel.com/
Swappel.com is an improved online local marketplace where people can buy, trade, and, sell their items or services.
3901 HWY 121
Bedford, TX 76021