Dwolla, developer of a payment platform, announced today that it has received a $16.5 million Series C investment led by venture capital behemoth Andreessen Horowitz, with contributions from NYC firms Thrive Capital and Union Square Ventures.

Dwolla is a payment network that allows anyone to send, request and accept money. We're not like those other big payment companies that rely on plastic cards and charge hefty fees. Instead, we've built our own network that securely connects to your bank account and allows you to move money for just $0.25 per transaction, or free for transactions $10 or less.