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This 28-Year-Old's Startup Is Moving $350 Million And Wants To Completely Kill Credit C... - 0 views

www.businessinsider.com/-in-the-next-few-years-2011-11

This 28-Year-Old's Startup Is Moving $350 Million And Wants To Completely Kill Credit Cards

shared by thinkahol * on 08 Dec 11 - No Cached

thinkahol * on 08 Dec 11

There's a tiny 12-person startup churning out of Des Moines, Iowa.Dwolla was founded by 28-year-old Ben Milne; it's an innovative online payment system that sidesteps credit cards completely.Milne has no finance background, yet his little operation is moving between $30 and $50 million per month; it's on track to move more than $350 million in the next year.Unlike PayPal, Dwolla doesn't take a percentage of the transaction. It only asks for $0.25 whether it's moving $1 or $1,000.We interviewed Milne about how he is building a credit card killer and Square rival from the middle of the nation where VCs and press are scarce.

<div class="cArrow"> </div><div class="cContentInner">There's a tiny 12-person startup churning out of Des Moines, Iowa.Dwolla was founded by 28-year-old Ben Milne; it's an innovative online payment system that sidesteps credit cards completely.Milne has no finance background, yet his little operation is moving between $30 and $50 million per month; it's on track to move more than $350 million in the next year.Unlike PayPal, Dwolla doesn't take a percentage of the transaction. It only asks for $0.25 whether it's moving $1 or $1,000.We interviewed Milne about how he is building a credit card killer and Square rival from the middle of the nation where VCs and press are scarce. </div>

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