Dwolla secures USD 5 mln in Series B funding round

Tuesday 14 February 2012 14:29 CET | News

US-based online, mobile and social payments platform provider Dwolla has raised USD 5 million in a Series B funding round led by private equity firms Union Square Ventures, Village Ventures, Thrive Capital and Artists & Instigators.

The company has revealed plans to use the new capital to expand its payment network across the country by focusing on building consumer brands, social and financial networks, banking back-ends, and APIs.

Since its inception, Dwolla has increased its network to 80,000 account holders.

Dwolla provides a platform which allows users to send, receive and request funds from any other user. In recent news, Dwolla introduced a new feature, dubbed the Instant, which allows users to transfer money instantly.

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Keywords: Dwolla, online payments, online platform, API, Instant
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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