Online Payments Service Braintree Acquires Social Payments Startup Venmo For $26.2M

It's a busy day in the mobile payments world and it's about to get busier: according to the New York Times, Braintree, the startup that powers the credit card payments systems of companies like OpenTable, Fab.com, AirBnB and Uber, just acquired Venmo, a company that lets you make and share payments your friends, for $26.2 million. Venmo's investors include?Accel Partners,?Greycroft Partners,?RRE Ventures,?betaworks,?Founder Collective,?Dave Morin,?Sam Lessin,?Dustin Moskovitz,VaynerMedia?and?Lerer Ventures. The company raised a $1.2 million seed round in 2010 and a Series A round in August 2011. The service only opened its door to the public in March 2012?and has been growing quickly ever since.

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