[5] After raising $1.31 million in funding,[6] Dwolla launched in the United States in December 2010 to a few small banks and retailers.

Dwolla provides a white label service consisting of APIs to use the ACH system[9] and white label services expanded from payouts to include instant bank authorization for debiting bank accounts[10] On May 25, 2011, Dwolla released its FiSync integration, which aims to allow instantaneous transactions instead of the typical 2–3 day of the ACH Network transactions.

[12] As of April 2013, the Iowa Department of Revenue allows businesses that pay cigarette stamp taxes to use Dwolla as a method of payment.

[14] In February 2015, the US Treasury Department's Bureau of Fiscal Service added Dwolla to the system which allows US Federal agencies to issue and receive electronic payments.

[15] On February 27, 2016, the Consumer Financial Protection Bureau (CFPB) released its first data security-related enforcement action[16] against Dwolla, Inc. Relying on its UDAAP-related authority, the CFPB alleged that Dwolla failed to maintain adequate data security practices despite representations made on the company website and in communications with consumers that the company has implemented practices that exceed industry standards.