Feature: Dwolla is a startup that makes collecting money easier and cheaper for businesses. Sending money is free with Dwolla – you don’t have any fees unlike credit cards or PayPal.
“Ultimately, we’re trying to design the future Visa, not the next PayPal,” CEO Ben Milne told Business Insider. “We’re building a human network based on our understanding of how payments will work in the future. The current model needs to explode.”
Dwolla lets you send money to whoever has a Dwolla account, email address or phone number. You can also set up recurring payments or large sum transfer options. In addition to serving individuals, Dwolla offers services for non-profit organizations and businesses. Businesses can have a higher transfer threshold and money transfers completed within 24 hours.
Origin : Des Moines, Iowa.
Founder: Ben Milne.
Funding: $32.5 million from CME Group, Andreessen Horowitz, Union Square Ventures, Village Ventures, Thrive Capital, Paige Craig, SeventySix Capital.
© Daniel Goodman – Business Insider