In February last year, Dwolla secured $5m in its B round from a pool of investors including BetterWorks and its chief executive Paige Craig.
Dwolla, a US-based developer of a web platform for cash payment, has raised $16.5m in its series C round led by venture capital firm Andreessen Horowitz and its original investors.
These other investors are Union Square Ventures, Village Ventures, and Thrive Capital.
Ben Milne, Dwolla’s founder, in a blog post said: “When I showed Jeff Jordan FiSync [Dwolla’s real-time application for financial institutions and service providers], there was a ‘holy shit’ moment. That made me happier than I can describe.”
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