Braintree's API works seamlessly behind the scenes to allow any e- or m-commerce business to accept payments in minutes, avoiding the complexities of traditional banking and merchant acquiring markets. With a small transaction fee and a scalable, PCI-compliant backend, any merchant can deliver a clean and fast checkout flow to customers. Today, Braintree is the payments rails beneath leading mobile and consumer apps like Uber, AirBnB and HotelTonight.
Accel led Braintree’s first ever institutional investment in June 2011, helping place Bill Ready (then an Accel Executive-in-Residence) as the company’s new CEO. Accel helped Bill and team scale its small Chicago-based organization into an international leader with multiple sales and engineering offices. Braintree acquired fellow Accel portfolio company Venmo in August 2012. Braintree/Venmo was then acquired by Paypal in 2013 for $800 million.