Celero Announces Acquisition of Elmhurst & Tandem

BFSI News

Celero-Announces-Acquisition-of-Elmhurst-Tandem Celero Announces Acquisition of Elmhurst & TandemCelero Commerce, a Nashville, Tennessee-based payment processing, business management software, and data intelligence services provider, as per recent reports, has announced acquiring Elmhurst Financial Services, a Brentwood, Tennessee-based payment processing company that largely deals with banks, and Tandem Innovative Payment Solutions, a Greenville, South Carolina-based payment processing company.

“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,” states Kevin Jones, CEO of Celero.

With these recent acquisitions, Celero now has an approximate merchant base of 25,000 merchants, processing an approximate annual payment of $10 billion, and has more than 100 employees in its five offices across the U.S.

Elmhurst assists its community and regionally-focused bank partners to develop and optimize their customer relationships. And Tandem, with its technology-driven payment processing solutions, assists financial institutions and SMB merchants.

“Joining the Celero family enables Elmhurst to more effectively serve its customers by leveraging Celero’s technology orientation in a rapidly changing fintech environment,” states 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.”

“We built this business to offer enterprise-level products and services for the local business,” states 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,” Jones, adds.