CHICAGO, IL — (Marketwire) — 08/23/11 — Inc. Magazine named Braintree, an online payments provider that powers commerce for many of the fastest-growing and most discerning businesses in the world, as the nation-s 47th fastest-growing private company, with a three-year growth rate of 4,1999.9 percent. Braintree ranks sixth in the financial services industry, first in online payments and second in Chicago. This is the first time the company has appeared on the Inc. 500 list.
The award recognizes how quickly Braintree is disrupting the payments industry and the key role the company plays in providing critical, behind-the-scenes payment services to many of the most innovative online companies, including LivingSocial, 37signals, OpenTable, GitHub, Airbnb and Hotel Tonight. Leaders in industries across the board are choosing Braintree because they need a payments provider that is tech savvy, modern and capable.
“Braintree has grown so quickly because merchants acutely need a payments provider with elegant developer tools, fair business practices and exceptional customer support. We-ve led the industry in all three of these areas, which is evident by the types of companies that choose to work with us and by ,” said Bryan Johnson, CEO of Braintree. “The most exciting part is that we-re just getting started. We have big plans for the future of online and mobile commerce.”
Braintree is on track to process more than $3 billion in credit card volume this year and is adding more than 100 new customers a month. This growth is fueling the expansion of the company-s team, which is expected to increase by 100 percent during the next year. Braintree is hiring in a variety of areas, including software development and customer support, and is .
Braintree-s explosive growth attracted a $34 million Series A investment from Accel Patners in June 2011 after Braintree profitably bootstrapped the company for four years. Accel Partners is one of the most respected venture firms in the world and is behind companies such as Facebook, Groupon and Rovio, the creator of Angry Birds.
Braintree ranked on the Inc. 500 list based on information gathered and assessed by Inc. Magazine researchers that detailed the company-s percentage revenue growth from 2007-2010. Braintree will be acknowledged at the 2011 Inc. 500|5000 Conference and Awards Ceremony, Sept. 22-24 in Washington, D.C.
Braintree helps online businesses process credit card payments by providing a merchant account, payment gateway, recurring billing and credit card storage. The company is disrupting the payments industry by providing elegant tools for developers coupled with white-glove support. Founded in 2007, Braintree works with the world-s most discerning online merchants, including LivingSocial, 37signals, OpenTable and GitHub. The company is on track to process more than $3 billion in credit card volume in 2011 from more than 2,000 merchants. Braintree was profitably bootstrapped for four years before accepting a $34 million investment from Accel Partners in 2011. Visit us at and on Twitter @braintree.
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (Inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today-s innovative company builders. Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
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