Dwolla has completed a $16.5 million round of Series C funding, led by investment giant Andreessen Horowitz, the company announced on its blog. Existing investors Union Square Ventures, Village Ventures and Thrive Capital contributed to the round as well.
Dwolla CEO Ben Milne wrote on the company blog that Dwolla will use the funding to build out its product, marketing and business development teams and that the company is going to double its workforce in New York and Iowa, as well as build up its expansion to San Francisco.
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