Accel Puts $34 Million In Online Payments Platform Braintree

It's no secret that Accel is making major investments in the online payments space, funding both Wonga and e-payments company Yapstone. And today the venture firm is announcing a $34 million Series A investment in Chicago-based online payments company Braintree. Accel partner Ryan Sweeney will be joining Braintree?s board. Braintree essentially powers and automates online payments for merchants and companies online. The company provides a merchant account, payment gateway, recurring billing, credit card storage, support for mobile and international payments, and PCI Compliance solutions. BrainTree has become a one-stop-shop for all the services a business needs to receive payments from anywhere in the world.

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