Silicon Prairie News

BetaBeat sources: Union Square Ventures to lead Dwolla’s Series B

Des Moines January 20, 2012 by Danny Schreiber

Dwolla has been hinting for some time at an upcoming Series B round, but today BetaBeat released a story citing multiple sources saying it will be in the neighborhood of $10 million and led by New York's Union Square Ventures.

Head on over to BetaBeat to check out its full story, and stay tuned to Silicon Prairie News for developments. We've reached out to Dwolla, an online cash transfer startup based in Des Moines, for more information.

Update 11:55 a.m.: Dwolla has declined to comment on funding.

Update 12:10 p.m.: Tweeted from the Dwolla Twitter account at 11:59 a.m.:

BetaBeat story:

Union Square Ventures Leading Series B in Iowa-Based Dwolla

By Adrianne Jeffries, BetaBeat

Des Moines-based payments provider Dwolla, which enables seamless online payments for a quarter per transaction, has been a simmering hot new thing for a while. But recently the startup has had a flush of attention and VCs have been falling all over themselves to book flights to Iowa and get in on the company’s next round. Speaking of which, multiple sources have confirmed to Betabeat that Dwolla’s getting close to announcing a series B led by New York’s Union Square Ventures in the neighborhood of $10 million.

Read full story on BetaBeat

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