Braintree Raises $35M in Series B Funding

Braintree, a Chicago, IL-based payments platform for online and mobile commerce, has raised $35m in Series B funding.

The round, which bring the total amount raised to date to $70m, was led by New Enterprise Associates (NEA) with participation from existing investors Accel Partners, RRE Ventures and Greycroft.

The company intends to use the new funding to bring to market additional payment capabilities in online and mobile and expanf internationally.

Founded in 2007 and led by Bill Ready, CEO, Braintree provides technology for access to single click checkout, credit card storage without additional PCI compliance burden, international payments in over 130 currencies, recurring billing and mobile commerce. Overall, the company is processing more than $5 billion in payments annually for over 3,000 mobile and online merchants. Braintree’s payment platform is used by Airbnb, Uber, LivingSocial, Rovio/AngryBirds, HotelTonight,, LevelUp, among others.

The company also operates offices in New York, San Francisco, and Menlo Park.



Related News:
30/06/2011: Braintree Raises $34M in Series A Funding from Accel Partners

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