Top 10 American non-bank payment processor enters Canadian market via acquisition of Halifax-based firm

NASHVILLE, Tenn.: #Fintech--Celero Commerce (“Celero”), Tennessee’s fastest-growing financial services company (INC 500), today announced the acquisition of SONA, a provider of electronic payments technology to businesses across Canada. With the addition of Halifax Nova Scotia-based SONA, Celero will process approximately $26 billion in annual card volume across North America.

Founded in 2016, SONA offers payment solutions for small and medium-sized merchants, providing them with pricing transparency, impeccable customer service, and state-of-the-art technologies. The company primarily serves merchants via partnerships with financial institutions (Credit Unions) and Independent Software Vendors.

“Since day one we have delivered pricing certainty, competitive rates and high-quality support to our customers,” stated Ryan O’Leary, founder of SONA. “We take immense pride in being one of the most reputable brands in the Canadian payments ecosystem. We are excited to join the Celero team, enhancing the innovative and customer-centric technology and product solutions we provide our customers.”

"SONA offers a strategic avenue for Celero’s geographic expansion into Canada," said Celero founder and Chief Executive Officer Kevin Jones. "This acquisition provides a robust platform to bolster international growth through our core distribution channels. These include partnerships with financial institutions and integration with business management software, which are vital in supporting the efficiency and scalability of small to mid-sized businesses. The alignment of our team cultures further fuels our enthusiasm for this partnership. We are thrilled to welcome the SONA team to the Celero family."

MAPP Advisors, a fintech advisory firm, advised SONA on the transaction.

About Celero Commerce

Headquartered in Nashville, Celero Commerce is a full-service, integrated electronic commerce solutions provider powered by leading-edge technology, strategic partnerships, and business intelligence. Celero offers small and medium-sized businesses payment processing services, business management software, and data intelligence, empowering them to drive growth and profitability. Celero is a top-ten non-bank processor of electronic payment transactions in the world. Visit https://www.celerocommerce.com/ to learn more.

Fonte: Business Wire