This 28-Year-Old’s Startup Is Moving $350 Million And Wants To Completely Kill Credit Cards - Business Insider
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.