Dwolla

paymentssoftware/whitelabel/apis-paymentsp2p paymentsartificial intelligence/machine learning

FOUNDING YEAR: 2008
LOCATION: United States
Last Update: 17/07/2020

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About

Building the best platform to programmatically move money. See what is capable with Dwolla: https://t.co/xPsPxNV8O0 #DoMoreWithDwolla

MEDICI Analysis

Dwolla offers real-time payments system and payments network to financial institutions. It also offers direct P2P payments transfer to consumers.

Focus

PRODUCTS & SERVICES

Digital payment network. Secure connects customers to with US banks and credit unions to enable safe,fast bank transfers. Payment tools-Dwolla Payment app for P2P payments, Payment Gateway services, ACH payment services for banks & finance institutions, White label services

REVENUE MODEL

Dwolla doesn't take a percentage of the transaction. It only asks for $0.25 whether it's moving $1 or $1,000. It follows a subscription model from $25 to $1500.

MAIN CLIENTS

Major clients are from E-commerce firms

Banks

EXISTING PARTNERSHIPS

BBVA Companies-customers can send and receive money through Dwolla Seamless-P2P money transfers Fiverr- Dwolla payment option

COMMENT

The Iowa-based company has built its own alternative to the credit card networks and Automated Clearing House (ACH) by which it can avoid the hefty interchange fees levied by the credit card companies and it can offer instantaneous transfers, avoiding the sometimes multi-day waiting periods associated with ACH.

Traction

VALUATION / MARKET CAP:

$48 M in 2018

REVENUE

$10M+ in 2018

REVENUE COMMENT:

The company had more than $10Million of revenue in 2018

People

FOUNDERS

Shane Neuerburg

BOARD MEMBERS AND ADVISORS

Scott Weiss

Matt Harris

Mark Fields

Suku Radia

Albert Wenger

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Andreessen Horowitz

CME Group

Detroit Venture Partners

Firebrand Ventures

Foundry Group

High Alpha

Ludlow Ventures

Next Level Ventures

Paige Craig

SeventySix Capital

The Members Group

Thrive Capital

Union Square Ventures

Veridian Credit Union

Village Ventures

KEY EMPLOYEES:

Ben Milne(CEO); Charise Flynn(COO)

Ben Milne

Momentum

FUNDED

YES

TOTAL FUNDING

$44.45 M

DATE OF LAST FUNDING

Feb 2018

TOTAL FUNDING COMMENT

The company is planning use the fund for growing capital requirements as a financial platform and also for expanding its team size (Feb 2018).

SEED & PRIOR FUNDING

$250 K

FUNDING SERIES

SERIES A  · $1 M  · Nov 2010

SERIES B  · $5 M  · Feb 2012

SERIES C  · $16.5 M  · May 2013

SERIES D  · $9.7 M  · Sep 2014

OTHERS  · $12 M · Feb 2018

PRIZE MONEY

$110 K

LISTED

NO

Innovation Programs

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