Celero Commerce, an electronic commerce solutions provider, has acquired TransNational Payments, a provider of electronic payments technology and business management SaaS solutions.

The financial terms of the deal were not disclosed.

Based in Illinois, TransNational Payments offers credit card processing, mobile payment processing, online payment services, and full service payroll.

Following the acquisition, Celero Commerce now caters to nearly 40,000 merchants and 150 financial institutions. The combined company processes over $14 billion of card volume annually, which puts it into the top 10 non-bank payment processors in the US.

Kevin Jones – Celero Commerce founder and CEO said: “We have been building toward this moment since we formed Celero in 2018. This is an important step in Celero’s evolution, expanding the high-tech, high-touch solutions we deliver that differentiate and empower our financial institution partners and business customers across the U.S.

“Our collective offering of vertically focused solutions, advanced middleware technologies and frictionless boarding capabilities, combined with the diverse go-to-market strategy and talented team added by TransNational, optimizes Celero for continued growth.”

The acquisition of TransNational Payments marks the second deal for Celero Commerce this year, and sixth following its launch in 2018 after an investment from private equity firm LLR Partners.

Jae Haas – TransNational Payments CEO said: “We are proud to join Celero and contribute to our collective mission to help small and mid-sized companies drive growth with the best financial technology platform in the market. This opportunity not only makes sense in terms of how our products and services fit, but also culturally, where our teams will come together and focus on smart growth for the future.”

As part of the deal, Jae Haas will be heading Celero Direct, while TransNational Payments’s executive vice president Bryan Olson will be responsible for TransNational operations.

  Bryan Olson, Celero Commerce, Fintech industry news, Illinois, Jae Haas, Kevin Jones, TransNational Payments, USA