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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