Dwolla hooks USD5m for online payments

Wed Feb 8 2012, 16:44 PM

Dwolla has raised USD5m in Series B funding to develop its web-based payments network. The Iowa-based startup, which differentiates itself by its low USD0.25 transaction charge, will use the cash to continue product development and expand its API. The round is led by Union Square Ventures, with participation from Village Ventures, Thrive Capital, Artists and Instigators and angel investor Paige Craig.

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