Building new infrastructure for digital payments may not sound sexy, but it’s an area that’s ripe for innovation. The legacy payments networks in existence today are bogged down with outdated technology, slowing progress. Des Moines-based Dwolla decided that the way to innovate in payments was to essentially blow up the outdated infrastructure entirely and start over by building out a new network from scratch. Today, that work has scored the company $16.5 million in new funding, in a Series C led by Andreessen Horowitz. The company’s previous investors, Village Ventures, Thrive Capital, and Union Square Ventures also participated in the round.
12/27/2015 6:48:43 AM
Backdated: April 30 2013