Payments company Dwolla has received $6.85 million and relaunched its white label API, Access API; the funding was led by Union Square Ventures and Foundry Group; the investment will be used to expand its employees; the new API will now manage same-day transfer services and include a new dashboard for transactions. Source
Dwolla has announced a new feature on its Access API for businesses that will now enable same day money transfers; Access API can be easily integrated into a small business' accounting system; the enhancement will help businesses by giving them the capability to make same day payouts, take advantage of vendor discounts and make same day refunds, all managed efficiently through their integrated systems. Source
Yahoo Finance launched a new savings app called Tanda which allows groups of five or nine people to save money; the app pools money from the group each month and each member of the group gets access to the pool at different months; the company charges a fee on the first two payouts but offers a bonus to users who can wait for the money; the pool can reach $2,000 and Tanda has partnered with Dwolla to vet users. Source.