Led by Andreessen Horowitz, Dwolla Raises $16.5 Million - Mike Isaac - Commerce - AllThingsD
Watch this space. Amazon and EBay are both ramping up in this arena and I see payments as a big deal in terms of data companies moving into finance going forward. The most disintermediated by the new move to payments are Visa, Mastercard, AMEX and banks."Payments startup Dwolla announced Tuesday it raised a $16.5 million round led by Andreessen Horowitz, with AH partner Scott Weiss to join Dwolla’s board. Former investors USV, Thrive and Village Ventures also participated in the round. Dwolla has built its own payments network, circumventing the usual fees associated with ACH networks (long used by credit card companies), charging 25 cents per money transfer....
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.