Former Lending Club CTO John MacIlwaine will join Braintree as the company’s new Chief Technology Officer. MacIlwaine takes the reins from current Braintree General Manager Juan Benitez, who had been serving in both capacities since 2014.
“As this global role will have a significant impact on our products, team, and strategy,” Benitez wrote in a blog post at Braintree, “John’s 20+ years of experience as a CIO/CTO in the financial services industry driving innovation at scale for multiple teams is a perfect fit for Braintree.” In his new position, Macilwaine will lead product development including engineering, product management design, and production engineering.
Braintree specializes in payment solutions for e-commerce companies ranging from small businesses to large corporations. The company’s platform enables merchants and businesses to accept payments directly, manage an online marketplace, or explore new sales channel opportunities. Braintree prides itself in being “developer-bred” and “technology-led” and emphasizes the ease of integration and wide payment optionality (including PayPal and Venmo) of its technology.
“The two-sided platform that only Braintree and PayPal together can deliver is unmatched and has always stood out to me,” MacIlwaine said. “I’m thrilled to leverage this unique value proposition to continue helping merchants around the world grow and succeed.”
MacIlwaine comes to Braintree from fellow Finovate alum, Lending Club, where he was CTO for more than four years. Before Lending Club, MacIlwaine held executive positions at Green Dot, Visa, Sungard, Envestnet, and Morgan Stanley. He has a BSE in Computer Engineering from the University of Michigan, where he is a member of the Entrepreneurship Advisory Board at the School of Information.
Founded in 2007 and headquartered in Chicago, Illinois, Braintree presented tools, tips, and other developer resources for building better e-commerce experiences for customers at FinDEVr New York 2016. The company is also a veteran of Finovate, having demonstrated its payment solution, Venmo Touch at FinovateSpring 2013. Braintree unveiled an expansion of its commerce infrastructure APIs last December, and promoted William Ready to COO in October. The company was acquired by PayPal in the fall of 2013 for $800 million in cash.