Capital One Co-Founder Invests In Online Payments Company Braintree

Braintree, an online payments provider, is announcing that Capital One co-founder Nigel Morris has joined the company’s board of directors and invested in the company following a $34 million investment from Accel Partners earlier this year.

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.

Morris, who is currently the managing partner of QED Investors, is best known as the co-founder of Capital One Financial Services. The amount of his investment in BrainTree has not been disclosed.

BrainTree has become a one-stop-shop for all the services a business needs to receive payments from anywhere in the world. The company’s clients include Airbnb, LivingSocial, OpenTable, Animoto, Lookout, Shopify, Brightcove, Hotel Tonight, GoMobo, 37Signals, and GitHub. The company is now processing more than $4 billion in annual credit card volume. Braintree also recently brought on payments exec and former Accel EIR Bill Ready as CEO.