Dwolla, a startup that makes it easy and cheap for businesses to collect payments, just raised a $16.5 million Series C round. The company charges $0.25 per transaction, not a percentage like credit card companies, and it has processed more than $1 billion to date.
Top VC firm Andreessen Horowitz is a new investor. Union Square Ventures, Thrive Capital and Ashton Kutcher are also investors.
How does a startup convince VCs to give it $16.5 million?
It usually starts with a PowerPoint presentation. Pitch decks are essential fundraising tools, whether a founder is after $500,000 or $50 million.
Here’s what Dwolla used to get millions of dollars from investors.