Dwolla, an account-to-account payments platform that provides API-based bank transfer and real-time payments infrastructure, has been acquired by PE-backed NMI.

The deal sits within payments infrastructure, where APIs are used to move funds directly between bank accounts.

Dwolla’s technology supports account-to-account payment workflows, including bank transfers and real-time payment flows.

The company’s infrastructure is built for businesses that need payment movement embedded into software products or operating systems, rather than relying only on card-based acceptance.

NMI is the buyer and platform company in the transaction.

The add-on brings NMI a bank-payment infrastructure asset alongside its broader payments technology business.

Seller, financing, valuation, advisors and management details were not included in the deal record.