Press release

Celero Commerce Acquires Elmhurst Financial Services and Tandem Innovative Payment Solutions

Sponsored by Businesswire

(“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

About Celero Commerce

Based in Nashville, Celero Commerce is a full-service, integrated
electronic commerce solutions provider powered by leading edge
technology, strategic partnerships, and business intelligence, all
moving at the speed of modern business. Celero offers payment processing
services, business management software, and data intelligence to small
and medium-sized businesses, empowering them to drive growth and