Banking

Funds platform Dwolla secures $21m funding

Iowa-based fintech Dwolla has raised $21 million in a enterprise spherical led by Foundry Group.

The Iowa-based agency was based in 2008

The spherical additionally included participation from Park West Asset Administration, Union Sq. Ventures, Detroit Enterprise Companions, Firebrand Ventures and Subsequent Degree Ventures.

With this newest spherical of funding, Dwolla has now raised greater than $70 million in capital throughout 9 rounds from buyers together with Andreesen Horowitz, Excessive Alpha, Thrive Capital and Ludlow Ventures.

Based in 2008, the agency’s final enterprise funding spherical resulted in a $12 million elevate in 2018.

The corporate says the funds might be used to gasoline its worldwide enlargement plans and additional product improvement.

Dwolla affords a low-code funds API that permits corporations to gather, facilitate or ship digital funds.

It claims to have seen an 80% improve in transaction quantity because the starting of the COVID-19 pandemic, with the potential to exceed $30 billion in 2021.

Dwolla CEO Brady Harris says the funding will enable the agency to “totally capitalise” on its momentum, having onboarded round 3 million customers within the first half of 2021.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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