Total amount raised
$72.4M
Latest funding date
2021-07-21
Location
Dwolla has raised funding across 9 rounds, backed by 15+ investors including Foundry Group, Union Square Ventures, Andreessen Horowitz, and CME Ventures.
What Is Dwolla?
Dwolla is a Des Moines, Iowa-based financial technology company that provides a modern payments platform built on a robust API. The platform enables businesses and developers to integrate bank transfers — including ACH, real-time payments, and push-to-debit — into their applications. Dwolla serves platforms and enterprises handling over 126 million annual transactions, making it a trusted infrastructure layer for B2B payments.
How Much Funding Has Dwolla Raised?
- Angel Round
- Amount Raised: USD 250,000
- Date: November 2009
- Lead Investors: Undisclosed
- Grant
- Amount Raised: USD 55,000
- Date: March 2010
- Lead Investors: Undisclosed
- Series A
- Amount Raised: USD 1,000,000
- Date: November 2010
- Lead Investors: The Veridian Group, The Members Group (TMG)
- Series B
- Amount Raised: USD 5,000,000
- Date: February 2012
- Lead Investors: Union Square Ventures
- Participants: Village Ventures, Thrive Capital, Artists and Instigators, Paige Craig
- Series C
- Amount Raised: USD 16,500,000
- Date: April 2013
- Lead Investors: Andreessen Horowitz
- Participants: Village Ventures, Thrive Capital, Union Square Ventures
- Series D
- Amount Raised: USD 9,700,000
- Date: September 2014
- Lead Investors: CME Ventures
- Participants: Andreessen Horowitz, Union Square Ventures, Village Ventures
- Venture Round
- Amount Raised: USD 6,850,000
- Date: January 2017
- Lead Investors: Union Square Ventures, Foundry Group
- Participants: Next Level Ventures, Ludlow Ventures, High Alpha, Firebrand Ventures, Detroit Venture Partners
- Venture Round
- Amount Raised: USD 12,000,000
- Date: February 2018
- Lead Investors: Foundry Group
- Participants: Union Square Ventures, Next Level Ventures, Ludlow Ventures, High Alpha, Firebrand Ventures
- Venture Round
- Amount Raised: USD 21,000,000
- Date: July 2021
- Lead Investors: Foundry Group
- Participants: Park West Asset Management, Union Square Ventures, Detroit Venture Partners, Firebrand Ventures, Next Level Ventures, Jeremy Andrus
Total Amount Raised: USD 72,355,000 across 9 rounds.
Key Investors
- Foundry Group
- Details: Foundry Group is a Boulder, Colorado-based venture capital firm. It led Dwolla's January 2017, February 2018, and July 2021 funding rounds, making it one of Dwolla's most consistent and prominent backers.
- Union Square Ventures
- Details: Union Square Ventures is a New York-based VC firm that led Dwolla's Series B in 2012 and co-led the 2017 venture round. Partner Albert Wenger joined Dwolla's board following the Series B investment. USV has participated in multiple rounds.
- Andreessen Horowitz
- Details: Andreessen Horowitz (a16z) is a prominent Menlo Park-based venture firm. It led Dwolla's $16.5M Series C in 2013 and participated in the 2014 Series D round.
- CME Ventures
- Details: CME Ventures is the venture capital arm of CME Group, the world's leading and most diverse derivatives marketplace. CME Ventures led Dwolla's $9.7M Series D in 2014, reflecting strategic interest in payments infrastructure.
- Next Level Ventures
- Details: Next Level Ventures is an Iowa-based venture capital firm. It has participated in multiple Dwolla funding rounds including the 2017, 2018, and 2021 rounds.
What's Next for Dwolla?
Dwolla is positioned to continue its growth as a leading payments infrastructure provider. With a strong base of enterprise clients and a focus on real-time payments, Dwolla aims to expand its platform capabilities and deepen integrations across the financial ecosystem. The company's consistent investor support signals confidence in its long-term strategy to modernize B2B payments in the United States.
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