Dwolla Raises Funding
Summary
Dwolla, a San Francisco, CA-based advanced real-time digital payment network, raised a new financing reportedly amounting to $9.7m.The round, which brought total funding to $32.5m, was led by CME Group (NASDAQ: CME), with participation from existing investors Andreessen Horowitz, Union Square Ventures, and Village Ventures.In conjunction with the funding, Mark Fields, Managing Director of CME Group’s strategic investment group, will join Dwolla’s board.Led by founder and CEO Ben Milne, Dwolla is a payment network that allows any business or person to send, request and accept money.The platform securely connects users to bank account and allows users to move money for $0.25 per transaction, or free for transactions $10 or less.
Funding
Amount
$9.7M
Total raised
Date
September 30, 2014
Announcement date
Investors
Union Square Ventures, CME Group, Village Ventures, Andreessen Horowitz
Lead investors
Company
http://www.dwolla.com
Funded company
Classifications
industries
Fintech & Banking
applications
Accounting and Taxes
AskAI Classifications
Labels
Financial Technology
Payment Software
SaaS
Linked Companies
Dwolla, Inc.
$10M to $25M