DES MOINES — As Ben Milne feverishly sought money for the mobile-payment company he began developing here in his hometown three years ago, investors responded with rejections by the dozens.
Eventually, he coaxed $1 million from a pair of local investors. His app, Dwolla, has since attracted more than 100,000 users, and now moves $30 million to $50 million worth of transactions a month.
So when he decided to seek a second round of financing last year, Mr. Milne, a 29-year-old college dropout, had an easier sell. This time investors courted him. This year, he announced that Dwolla had drawn another $5 million in capital from investors on both coasts, including Ashton Kutcher and a firm with Twitter and Foursquare in its portfolio.
To read the original article: Tech’s New (Geographical) Frontier - ‘Silicon Prairie’ - NYTimes.com
