How Dwolla Disrupted the Digital Payment Industry
About 250,000 people use Dwolla, a payment network that charges just 25 cents for transactions of $10 or more. Dwolla's transactions on pace to total $1 billion in 2013.
By Michelle Goodman •
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Ben Milne didn't set out to disrupt the U.S. online and mobile payment infrastructure. But when he founded Dwolla--a payment network that charges just 25 cents for transactions of $10 or more--that's exactly what happened. Today about 250,000 people, businesses and financial institutions use Dwolla, with transactions on pace to total $1 billion in 2013. Earlier this year the Des Moines, Iowa-based company raised $16.5 million in Series C funding and opened its fifth office, in San Francisco.
Milne, Dwolla's CEO, talked to us about his motivation, fundraising and when he realized he was onto something huge.
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