Dwolla, the US-based developer of a web platform for cash payment, secured $5m in series B funding on 7th February from a pool of investors including employee recognition and rewards platform BetterWorks.
Also participating were private equity firm Thrive Capital, venture capital firms Artists & Instigators and Village Ventures, venture capital fund Union Square Ventures, and BetterWorks’ chief executive Paige Craig.
Dwolla’s series A round was completed in November 2010, raising $1m from the Veridian Credit Union and followed a $250,000 angel round the year before.