Braintree and Venmo, together, have revolutionized mobile commerce by making aspects of the payment process easier and more streamlined for the consumer.
In 2012, we were already investors in Venmo, a money transferring app, when we were introduced to Braintree CEO, Bill Ready. We really liked Bill, a buttoned-up executive who had a clear vision of the future of mobile commerce. While we initially got involved with Braintree through its acquisition of Venmo, we decided to take a chance and invest further in the company despite the fact that, at the time of these investments, it was unclear whether people were going to want to make many of their purchases on their mobile phones. The Venmo team was made up of exceptional product leaders, and their vision to simplify the mobile payment process combined with Braintree’s executive and management team, monetization potential, and growth rate leveraged the growth and transformed the mobile ecosystem.