Braintree, a Chicago, IL-based provider of payment solutions for online and mobile commerce businesses, has raised $34m in Series A funding from Accel Partners.
The company intends to use the funds to further improve its core products and increase its staff.
Founded in 2007 by CEO Bryan Johnson, Braintree aims to help businesses process credit card payments by providing a merchant account, and payment gateway to accept credit card payments including Visa, MasterCard, Discover, American Express, JCB and Diners, recurring billing, and PCI Compliance solutions.
In conjunction with the funding, Ryan Sweeney, partner at Accel, will join the company’s board.
FinSMEs
30/06/2011