Celero Commerce (“Celero”), a vertically-focused commerce solutions provider, announced the acquisitions of Elmhurst Financial Services (“Elmhurst”), the leading financial institution-focused payment processing provider, and Tandem Innovative Payment Solutions (“Tandem”), a technology-focused payment processing provider.
These acquisitions strengthen Celero’s expertise in providing industry-leading payment processing, business management software, technology, and customer support to its financial institution partners and SMB customers. 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.
Based in Brentwood, TN, Elmhurst partners with community and regionally-focused financial institutions, assisting them to develop and optimize 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,” said 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.”
Based in Greenville, SC, Tandem provides technology-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,” said 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."
“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,” said Kevin Jones, CEO of Celero. “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.” As part of these transactions, senior leadership will join Celero’s management team.