Celero Acquires Finical to Expand Payment Processing Capabilities

U.S. non-bank payment processor Celero Commerce has acquired Finical, a Dallas-based provider of electronic payments technology.

This strategic acquisition will enhance Celero’s capabilities and allow it to process approximately $25 billion in annual card volume, the companies said in a Wednesday (Oct. 11) press release.

Founded in 2012, Finical has been offering tailored payment solutions and superior customer support to small and medium-sized businesses (SMBs) since its founding in 2012, according to the release.

“The addition of the Finical team complements our capabilities in a way that will allow us to better serve our customers,” Celero founder and CEO Kevin Jones said in the release. He noted that Celero was established with the aim of delivering a proprietary suite of software and payment solutions to SMBs.

Aaron Nasseh, founder of Finical, added that the two companies have a shared goal of providing technology, service and support to SMBs. “Joining forces with Celero is an exciting step for us as the combination will enable our team members and customers to grow through innovation and customer-centric solutions,” he said.

This acquisition marks Celero’s tenth acquisition since its launch in late 2018, according to the press release.

Among them was the August 2022 acquisition of Community Bankers Merchant Services (CBMS), a provider of electronic transaction processing for community and regional banks. Celero said at the time that this added more options for payment processing.

Headquartered in Nashville, Celero is a full-service, integrated electronic commerce solutions provider, the release said. In addition to payment processing, the company offers business management software and data intelligence, all aimed at driving growth and profitability for SMBs.

PYMNTS Intelligence has found that 85% of SMBs view their payment processors favorably. At the same time, more than half of the SMBs who are highly satisfied with their current processors would switch if offered lower transaction fees, according to “Main Street Health Q3 2023: Leading Payment Processors Satisfy SMBs, but Less Popular Providers Are Vulnerable,” a PYMNTS and Enigma collaboration.

The report also found that 42% of SMBs would be motivated to switch payment processors if offered superior ease of use.