United States · Funded startup

Who invested in Dwolla

8 rounds we have observed, with the 18 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Fintech

Funding summaryUpdated 26 Oct 2026

$51Mraised across 8 rounds since 2009, from 9 sources

$250KSeed$55KGrant$1.0MSeries A$5.0MSeries B$17MSeries C$9.7MSeries D$6.8MRound$12MRound
Latest round
Round, $12MFeb 2018
Led by
Foundry Group/ Union Square
Biggest round
$17MSeries C · May 2013
Step-upi
1.8×
Investors
18 (1 led)
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2011201320152017
$250KSeed$55KGrant$1.0MSeries A$5.0MSeries B$17MSeries C$9.7MSeries D$6.8MRound$12MRound
First round
Seed, $250K
Nov 2009
Biggest round
$17M
Series C · May 2013
Usual gap between rounds
15 months
the median of 7
DwollaFintech1 / 18Their pitch deckDwolla's pitch deck, 18 slidesEach slide read for what it argues, against the decks that raised at the same stage.

The rounds

  1. Feb 2018
    Round$12M4 new1 returning

    Reported by ClayandmilkSEC filing: $12M sold, first sale Feb 2018

  2. Jan 2017
    Round$6.8M6 new1 returning

    Reported by Clayandmilk and 1 otherSEC filing: $6.9M sold, first sale Sept 2016

  3. Sept 2014
    Series D$9.7M1 new3 returning

    From a historical funding record

  4. May 2013
  5. Feb 2012
    Series B$5.0M6 new

    Reported by techcrunch.comSEC filing: $5.0M sold, first sale Feb 2012

  6. Nov 2010
    Series A$1.0M

    No investor was named in the report.

    Reported by siliconprairienews.com

  7. Mar 2010
    Grant$55K

    No investor was named in the report.

    Reported by iowalifechanging.com

  8. Nov 2009
    Seed$250K

    No investor was named in the report.

    From a historical funding record

Founders and team

From the SEC filings it signed: 3 on the team.

  • Ben MilneExecutive Officer, Directori
  • Brady HarrisExecutive Officer, Directori
  • Dave GlaserExecutive Officeri

On the board, as filediAlbert WengerAlexander KemperChris MoodyCraig Ibsen

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Seed2009Grant2010Series A2010Series B2012Series C2013Series D2014Round2017Round2018Union Square VenturesVillage VenturesAndreessen HorowitzThrive CapitalHigh AlphaFoundry Group/ Union SquareLLudlow VenturesPaige CraigSeventySix CapitalDetroit Venture Partners

Everyone who backed them

Union Square VenturesVC firm4rounds
Village VenturesVC firm3rounds
Andreessen HorowitzVC firm2rounds
Thrive CapitalAccelerator2rounds
High AlphaVC firm2rounds
Foundry Group/ Union Squareno record of our own yet1round, led 1
Ludlow VenturesVC firm1round
Paige CraigAngel1round
SeventySix CapitalVC firm1round
CME VenturesCorporate VC1round
Firebrand VenturesVC firm1round
Next Level VenturesVC firm1round
Next LevelPrivate equity1round
BetterWorks (Closed)no record of our own yet1round
Foundry Group/ Next Level Venturesno record of our own yet1round
Ludlowno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 3 firms list Dwolla as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

High Alpha CapitalVenture studio2026, per its site
Catalpa Ventures Family OfficeFamily officePer its own site
Three Thousand CapitalVC firmPer its own site

Quick answers about Dwolla

Who invested in Dwolla?

Dwolla's investors include Union Square Ventures, Village Ventures, Andreessen Horowitz, Thrive Capital and High Alpha, and 13 more on record. Foundry Group/ Union Square led its latest round.

How much has Dwolla raised?

Dwolla has raised $51M across 8 rounds since 2009.

When did Dwolla last raise?

Dwolla's most recent round was an Undisclosed round of $12M in Feb 2018, led by Foundry Group/ Union Square.

What was Dwolla's biggest round?

Dwolla's largest round on record is $17M (Series C), in May 2013.

Who backed Dwolla first?

Dwolla's first round on record, in Feb 2012, was backed by Union Square Ventures, Thrive Capital and Village Ventures and 3 others.

What stage is Dwolla at?

Dwolla's latest named round is an Undisclosed round, in Feb 2018.

Where is Dwolla based?

Dwolla is based in the United States.

Who led Dwolla's rounds?

Foundry Group/ Union Square led the Undisclosed round in 2018.

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