Celero acquires Elmhurst and Tandem
US-based, Celero Commerce, a vertically-focused commerce solutions provider, announced the acquisitions of Elmhurst Financial Services, a financial institution-focused payment processing provider, and Tandem Innovative Payment Solutions, a technology-focused payment processing provider.
“Bringing Elmhurst and Tandem into the Celero family allows us to reinforce our ability to empower financial institutions and SMBs to compete in the dynamic, technology-forward marketplace,” says Kevin Jones, CEO of Celero.
Following the additions of Elmhurst and Tandem, Celero will serve approximately 25,000 merchants and process approximately $10 billion in annual payment volume, with more than 100 employees in five offices across the U.S.
Elmhurst partners with community and regionally-focused financial institutions, assisting them to develop and optimise their customer relationships.
“Joining the Celero family enables Elmhurst to more effectively serve its customers by leveraging Celero’s technology orientation in a rapidly changing fintech environment,” says Paul England, founder of Elmhurst. “As part of Celero, we have the unique ability to provide a more robust set of business management solutions and payment processing capabilities to our bank partners.”
Tandem provides tech-oriented payment processing solutions to financial institutions and SMB merchants.
“We built this business to offer enterprise-level products and services for the local business,” says Larry Feniger, founder of Tandem. “With access to Celero’s resources, we will continue to effectively serve our partners and merchants by providing access to best-in-class payments, products, and technology services.”
“We look forward to extending Paul and Larry’s commitment to their partners and merchants by providing access to Celero’s technology and vertically-focused business solutions,” adds Jones.
Senior leadership will join Celero’s management team as part of these transactions.
