DES MOINES, Iowa, July 21, 2021 /PRNewswire/ — Dwolla, a modern payments platform, today announces a $21 million venture round led by Foundry Group to drive innovation for today’s B2B payments. Additional investors include Park West Asset Management LLC, Union Square Ventures, Detroit Venture Partners, Firebrand Ventures and Next Level Ventures. and Jeremy Andrus, the CEO of Traeger, also joined the round as an individual investor.
Payments platform eyes international expansion, raises capital to enhance digital financial solutions for enterprises
The transaction value for global digital payments was $5.4 trillion in 2020 and is projected to reach $11.29 trillion by 2026. As digital payments overtake analog, Dwolla is uniquely positioned to continue leading the industry with its flexible, reliable and easy-to-use payments platform. This investment will catalyze Dwolla’s growth initiatives with international payments, expansive partner relationships through a partner API and further accelerate the company’s aggressive product roadmap focused on a world-class, real-time payments experience.
“We continue to be excited at the speed of innovation and demands from the marketplace, ” said Dwolla CEO Brady Harris. “We continue to see significant client and payment volume growth due in part to our new products like Real-Time Payments, Push-to-Debit and our low-code solutions. This funding will allow us to fully capitalize on the momentum we’re experiencing, as we…