Payments & Fintech Acquisitions in United States

Global Payments agreed to acquire Worldpay from GTCR and FIS for $24.25 billion in cash and stock as part of a cross-conditioned three-way transaction. Concurrently, FIS will acquire Global Payments’ Issuer Solutions business at an enterprise value of $13.5 billion, with both transactions expected to close together in the first half of 2026 subject to approvals.

Summer PBC, a student loan repayment and college savings benefits provider, acquired Vault Student Loan Benefits (formerly Student Loan Genius) in an all-cash deal. Summer is acquiring certain Vault assets, intellectual property, and select client contracts, and plans to phase out Vault’s existing products while integrating Vault’s team, technology, and expertise to expand Summer’s student loan and education benefits offering for employers.

LeafLink acquired the assets of Dama Financial's banking division to expand financial services offerings for cannabis operators. Financial terms were not disclosed, and Dama Financial said product lines not included in the deal will rebrand to GrowFlow.

Paystand, a blockchain-enabled B2B payments provider, announced it has acquired spend management software company Teampay to expand its B2B payments and finance operations platform. The combination adds Teampay’s AP and expense controls to Paystand’s payments network and AR automation capabilities, creating a larger integrated B2B payments ecosystem. Financial terms were not disclosed, and the transaction included financing support from Stifel Venture Banking.

Balance Point Capital Advisors, along with its affiliated funds, made an investment in BenefitHub by providing debt and equity capital. The financing was used to facilitate Inverness Graham Investments’ recapitalization of BenefitHub, which operates a tech-enabled employee engagement marketplace and voluntary benefits platform serving Fortune 500 companies.

GreenSky completed its acquisition by a consortium of institutional investors led by Sixth Street, with KKR, Bayview Asset Management, and CardWorks (from Goldman Sachs) participating. As part of the transaction, GreenSky is also deepening its strategic partnership with Synovus Bank, which has supported the GreenSky Program since 2015.

Frazier Healthcare Partners acquired Nashville, Tennessee-based patient engagement and payment technology company RevSpring from private equity firm GTCR. New Enterprise Associates, 22C Capital, and RevSpring’s senior leadership team joined Frazier in the acquisition. Financial terms were not disclosed.

Milestone Partners acquired CDE Services, LLC, a provider of integrated payment processing solutions focused on EBT and credit/debit processing for merchants. The transaction was supported by a strategic capital investment from Tecum Capital, LO3 Capital, and Navigate Capital to help CDE expand market share and broaden product offerings in integrated payments.

Tradeweb Markets Inc. has entered into a definitive agreement to acquire r8fin, an algorithmic execution technology provider focused on U.S. Treasuries and interest rate futures. The deal is expected to close in the first quarter of 2024, subject to customary conditions and regulatory approvals, and is anticipated to be accretive to Tradeweb’s 2024 earnings per share.

Alipse Systems acquired an unnamed First Data/Fiserv payments ISO that provides electronic transaction processing and merchant payment solutions to small- and medium-sized businesses. 733Park advised the ISO in the transaction, and the combined business will continue serving and expanding its merchant customer relationships.

Aurora Payments, LLC acquired VN Systems, a Georgia-based merchant services provider focused on payments and software solutions for Vietnamese-owned nail salons. The acquisition adds roughly 1,700 salon clients and is intended to expand VN Systems’ distribution by leveraging Aurora’s payments ecosystem and technology, strengthening Aurora and its NailSoft platform in the health and beauty sector.

Stax Payments announced the acquisition of Atlantic-Pacific Processing Systems (APPS) to create an end-to-end, seamless payment processing platform and expand Stax’s technology stack. APPS’ platform will become “Stax Processing,” serving as the foundational processing layer for fintech offerings, with leadership and staff from APPS joining Stax as the businesses integrate through 2024.

Celero Commerce, a U.S. non-bank payment processor, announced the acquisition of Finical, a provider of electronic payments technology. The deal adds Dallas-based Finical to Celero’s platform and brings Celero’s total to ten acquisitions since late 2018, with expected annual card volume processing of approximately $25 billion.

Versatile Credit announced a strategic growth investment from PSG to support go-to-market initiatives and expansion into new merchant categories. As part of the investment, PSG representatives Marco Ferrari and Chris Nesbitt will join Versatile's Board of Directors; financial terms were not disclosed.

Trading Technologies International, Inc. (TT) signed a definitive agreement to acquire Abel Noser Solutions, LLC (ANS), a provider of transaction cost analysis (TCA) and related analytics for institutional investors. ANS is being acquired from Abel Noser Holdings, a majority-owned portfolio company of Estancia Capital Partners; financial terms were not disclosed and closing was expected Aug. 31, 2023.

Clarion Capital Partners completed an investment in Ready Credit Corporation and its subsidiary Reverse ATM, LLC (dba Reverse ATM), a payment solutions platform enabling cashless operations for consumer-facing businesses. The partnership is intended to accelerate Ready Credit’s growth and fund further investment in its technology, employees, and internal infrastructure; transaction terms were not disclosed.

Fifth Third Bank has acquired Arlington, Virginia-based embedded payments platform Rize Money. Fifth Third said the deal will bolster its embedded payments and treasury management businesses as it expects embedded payments revenue to exceed $130 million this year. Financial terms were not disclosed, and the transaction closed in early May.

Yahoo announced it has acquired Wagr, a peer-to-peer social sports betting app, to strengthen and expand the gaming and fantasy offerings within Yahoo Sports. Wagr will be fully integrated into Yahoo Sports, and the transaction has closed with financial terms undisclosed.

Fifth Third Bancorp announced a definitive agreement to acquire Big Data Healthcare, a technology solutions provider focused on healthcare payments and remittance. The acquisition is intended to add national healthcare revenue cycle capabilities to Fifth Third’s treasury management and commercial banking offerings. Financial terms were not disclosed and the deal is subject to customary closing conditions.

One Equity Partners (OEP) agreed to acquire ACI's corporate online banking solutions (marketed as ACI Digital Business Banking Solutions) from ACI Worldwide. Upon closing, the business will operate independently under the new name Dragonfly Financial Technologies, with Hauser Private Equity co-investing in the transaction.

Fortis announced it has acquired Payment Logistics, a payment technology company based in La Jolla, California, to expand Fortis' embedded payments footprint and technology stack. Payment Logistics brings embedded payments partnerships, payment integration capabilities, and a specialized team that will continue operating under founder Dustin Niglio as part of Fortis.

International Money Express, Inc. (Intermex) completed its acquisition of Envios de Valores La Nacional Corp (La Nacional), expanding its remittance footprint and strengthening its market position in key Latin America corridors, particularly the Dominican Republic. Intermex paid $42.3 million in cash at closing, with up to an additional $2.4 million in contingent consideration tied to 2023 performance targets.

Tyler Technologies, Inc. signed a definitive agreement to acquire Rapid Financial Solutions (Rapid), a payments platform provider offering card issuance and digital disbursement capabilities. The purchase price is approximately $68 million in cash and Tyler stock, and the deal is expected to close in the fourth quarter of 2022. Rapid will join Tyler’s Payments business unit within Tyler’s NIC Division.

HomeTown Ticketing Inc., a Nexa Equity portfolio company, completed the acquisition of Ticket Spicket, a Virginia-based digital ticketing platform focused on the K–12 market. The deal expands HomeTown’s capabilities and geographic reach across the United States, creating a larger community-focused ticketing and event management platform supporting more than 16,500 K–12 schools and related organizations.

Aztec Software, a NexPhase Capital-backed provider of educational software for adult education and workforce training, has acquired iGrad, a web-based financial literacy and wellness platform. iGrad will operate as a wholly owned subsidiary, continue to be led by CEO Rob LaBreche, and remain headquartered in San Diego. The deal expands Aztec’s product ecosystem to include financial wellness education and loan management resources.

ParkHub, a Dallas-based provider of parking software and payments solutions, has acquired Dallas payments integrator Fuzse. The deal expands ParkHub’s payments innovation capabilities and strengthens integration between its parking management software, hardware, and payment processing to deliver better customer insights and experiences. Fuzse founder Lane Conner will join ParkHub as President of Payments.

Celero Commerce, a U.S. non-bank payment processor, announced the acquisition of Community Bankers Merchant Services (CBMS), an electronic transaction processing provider serving community and regional banks nationwide. With the addition of Arkansas-based CBMS, Celero will serve more than 53,000 merchants and process approximately $21 billion in annual card volume. 733Park, Inc. advised CBMS on the transaction.

HOMEE acquired MyCAT Marketplace, a SaaS solution for managing property insurance claims stemming from catastrophic weather events. The deal expands HOMEE’s digital claims marketplace capabilities, adding MyCAT’s command center features such as live weather analytics and CAT event resource planning to improve carrier and policyholder outcomes.

Fidelity Payment Services announced a strategic growth investment from PSG, with participation from existing investor H.I.G. Growth Partners. The investment will support Fidelity Payment Services’ expansion plans, including accelerating go-to-market initiatives, continued development of its Cardknox payments platform, and future M&A activity; financial terms were not disclosed.

RF Investment Partners closed a growth capital investment in Allied Payment Network, a Fort Wayne, Indiana-based provider of bill pay and payment solutions for banks and credit unions across the United States. The investment will support Allied’s continued product innovation and growth initiatives in the fintech payments market.

FutureFuel.io, a student debt management platform, acquired College Finance Company, a multi-lender marketplace for education financing. Following the acquisition, FutureFuel.io rebranded its corporate identity and changed its name to Candidly to reflect an expanded platform offering across the full lifecycle of education expenses.

FirstClose, Inc. closed a $35 million growth equity investment from Lateral Investment Management to accelerate its product development and growth strategies. The Austin, Texas-based fintech provides underwriting workflow automation, point-of-sale software, and data services for U.S. mortgage and home equity lenders, and plans to use the funding to expand its footprint and capabilities.

Nexa Equity LLC acquired Choice Inc., a global omnichannel payments platform, as a majority investor. In a related transaction, Choice acquired Direct Payment Consultants, expanding the combined platform to more than $3 billion in annual payments volume across 7,000+ customers in the United States and Canada.

Payroc WorldAccess, LLC (Payroc) announced its acquisition of Worldnet, an integrated payments gateway and omnichannel payments solutions provider serving ISVs and SaaS customers. Payroc plans to incorporate Worldnet’s technology into its platform to expand further into embedded and omnichannel payments. Payroc is backed by Parthenon Capital, which assisted Payroc in completing the acquisition.

Versapay has completed the acquisition of U.S.-based fintech company DadeSystems to expand its accounts receivable (AR) automation offerings, including AI and machine learning-enabled cash application capabilities. DadeSystems investor Ten Coves Capital is rolling its stake into Great Hill Partners-backed Versapay, and both Great Hill Partners and Ten Coves Capital are contributing additional capital to fund the acquisition. DadeSystems will continue to operate in Miami and will be integrated with Versapay’s North American teams.

PayArc announced a strategic investment from Bregal Sagemount. The financing will support PayArc’s expansion of its integrated payments product suite, investments in new sales and marketing channels, and broader geographic and strategic growth, including potential acquisitions.

Trading Technologies International, Inc. (TT) acquired RCM-X, a financial technology provider of algorithmic execution strategies and quantitative trading products. The deal expands TT’s trading platform with RCM-X’s execution algos, trade analytics, and transaction cost analysis (TCA) services, which will be integrated into the TT platform. Financial terms were not disclosed.

PSG and Blue Star Innovation Partners (BSIP) have sold Payrix, an embedded payments fintech serving SaaS companies, to FIS. Financial terms were not disclosed. Payrix provides payment facilitation-as-a-service (PFaaS) and payment infrastructure (payment IaaS) products to help software platforms embed payments.

ParkHub, a provider of parking management software and payment processing solutions, secured a growth investment from LLR Partners. The investment will fund continued product development, expansion of ParkHub’s payment processing offerings, and support complementary acquisition opportunities.

NMI acquired IRIS CRM to expand its full commerce enablement offering beyond gateway services with a payments-centric CRM and merchant management capabilities. The combined organization will provide easier merchant sign-up and onboarding, lead management, and portfolio reporting for partners across the payments ecosystem. Terms of the acquisition were not disclosed.

Payroc WorldAccess, LLC (Payroc) announced the acquisition of East Commerce Solutions, Inc., a merchant services provider. The deal expands Payroc’s payments capabilities and product offerings by adding East Commerce Solutions’ customer base and merchant acquiring services across the United States.

TAP Software Holdings, an enterprise software investment vehicle managed by Terminus Capital Partners, acquired Delta Data, a FinTech provider of back-end pooled investment fund administration and processing software. Delta Data was acquired from Accel-KKR, with Whitfield Athey continuing as CEO. Financial terms were not disclosed.

Stax, an all-in-one payment technology provider, announced the acquisition of CardX, an automated surcharging and compliance platform for U.S. merchants. The deal strengthens Stax’s surcharging capabilities by adding CardX’s automated compliance, pricing, reconciliation, and cash-application tools, while CardX will continue operating as a stand-alone brand alongside the Stax platform.

Orion Advisor Solutions acquired BasisCode Compliance LLC, a provider of cloud-based regulatory compliance and risk management software for financial services firms. The deal expands Orion’s compliance technology capabilities by integrating BasisCode’s testing, surveillance, certifications, and audit-ready reporting features into Orion’s wealthtech platform. Financial terms were not disclosed and the transaction was signed and closed the same day.

Fortis Payment Systems, LLC (FortisPay) acquired OmniFund, a provider of cloud-based Payments-as-a-Platform technology used by software and ERP solutions. The deal expands FortisPay’s commerce technology platform and adds OmniFund’s payments enablement capabilities and software partnerships; financial terms were not disclosed.

L Squared Capital Partners acquired Chicago-based Sterling Trading Tech (STT), a SaaS financial trading technology provider, from LLR Partners and other investors. STT management also participated in the transaction, and the company plans to invest in product development, sales growth, and pursue strategic acquisitions.

Inveniam Capital Partners, Inc. acquired Factom, Inc., an Austin-based blockchain innovations company; financial terms were not disclosed. The deal adds nearly 40 blockchain patents to Inveniam’s portfolio and supports expansion of its Inveniam.io platform and the creation of Inveniam Labs in Austin.

Payroc WorldAccess, LLC (Payroc) announced the acquisition of DCS Holdings Group, LLC, doing business as ACHeck21. ACHeck21 provides integrated ACH and Check21 technology, and the deal supports Payroc’s strategy to build a combined card and eCheck payments platform for integrated partners.

An affiliate of Sun Capital Partners, Inc. completed the acquisition of LoanLogics, a provider of digital mortgage solutions, mortgage audit software, and document processing automation. The deal is Sun Capital’s second technology platform investment since formalizing its technology vertical, and the firm plans to use its operational resources to accelerate LoanLogics’ growth. Financial terms were not disclosed.

ION Group has acquired DASH Financial Technologies, a US-based options technology and execution provider, to expand the capabilities of its ION Markets division. The deal closed following regulatory approvals and adds options trading technology, routing, and execution functionality to ION’s markets portfolio. Flexpoint Ford, DASH’s previous owner, sold the company in the transaction.

LTV SaaS Growth VII, LLC (LTV Fund) acquired Txt2Give, a mobile donation platform that enables organizations to collect donations via text message and credit card processing. FE International served as the sole sell-side M&A advisor on the transaction, and Txt2Give’s founder Chad Boyd noted the company will continue under LTV’s new ownership.

Payroc WorldAccess, LLC (Payroc) acquired Select Merchant Services, Inc., which does business as Retriever Merchant Solutions (Retriever). Retriever is an independent sales organization in the payments industry headquartered in Munster, Indiana, and its president/founder Brian Kamstra will remain in his leadership role. Payroc, backed by Parthenon Capital, said the deal expands Payroc’s scale to over $33 billion in annual payment volume and more than 100,000 merchants.

Quisitive Technology Solutions Inc. entered into a stock purchase agreement to acquire BankCard USA Merchant Services, Inc. for US$100 million in cash plus 50,000,000 Quisitive common shares, with a potential earn-out of up to US$20 million. The deal is intended to accelerate Quisitive’s LedgerPay payments platform and expand its merchant payment processing capabilities. BankCard USA is a U.S. merchant services/payment processing provider headquartered in Westlake Village, California.

Caltius Equity Partners completed a recapitalization of its investment in Health Payment Systems, Inc. (HPS) to SV Health Investors, LLC. SV’s investment is intended to support HPS’ expansion in the Upper Midwest and beyond, alongside leadership updates including Tom Policelli joining as CEO.

PNC Bank N.A. entered into a definitive agreement to acquire Tempus Technologies, Inc., a payment gateway provider offering secure payment-processing solutions. The deal is intended to expand PNC Treasury Management’s payments platform, enabling corporate clients to manage payables and receivables through a single channel across multiple payment rails. Tempus Technologies will continue operating from Auburn, Indiana and retain its management team and employees following closing.

NinjaTrader Group, LLC acquired TransAct Futures, a non-clearing Futures Commission Merchant (FCM), along with its wholly owned subsidiary, Infinity Futures. The deal adds clearing operations to NinjaTrader’s trading software and brokerage platform as it seeks to modernize and simplify the retail futures trading experience.

Fortis Payment Systems, LLC (FortisPay) announced it has acquired Swype at Work (Swype). FortisPay also entered into a long-term strategic partnership with Net at Work, an affiliate of Swype, to expand payment integrations across ERP and e-commerce platforms and broaden FortisPay’s reach into B2B and middle-market customers across North America.

Greater Sum Ventures (GSV) announced a majority investment in Orlando-based integrated payment technology provider Fattmerchant. The funding will provide additional capital for Fattmerchant to invest in innovation and accelerate growth, while the company continues to be led by CEO Suneera Madhani, President Sal Rehmetullah, and the founding team.

Blackhawk Network has completed the acquisition of National Gift Card (NGC), a North American card and prepaid technology company. The deal expands Blackhawk’s prepaid and gift card offerings and brings NGC’s fulfillment capabilities into Blackhawk’s operations, while giving NGC customers access to Blackhawk’s digital incentive solutions and broader brand catalog.

MeridianLink acquired Teledata Communications, Inc. (TCI), the creator of the DecisionLender SaaS loan origination solution. The deal adds DecisionLender into MeridianLink’s product suite and is intended to accelerate innovation in loan origination technology for banks, credit unions, and other financial institutions.

MRI Software has completed the acquisition of Priority Technology Holdings, Inc.'s RentPayment business, including the RentPayment.com, StorageRentPayment.com, and DuesPayment.com payment brands. The deal is intended to expand and scale MRI’s global payments offering for its MRI Living clients across residential, affordable, and public housing sectors. Priority will continue to provide payment infrastructure as a service and processing support to MRI’s payments platform going forward.

Payment Alliance International, Inc. (PAI) acquired the Cash-N-Go ATM portfolio from Cash N Go ATM Network Inc., a subsidiary of Perativ Inc. The deal adds nearly 400 ATMs to PAI’s network, bringing its nationwide footprint to more than 90,000 ATMs. Financial terms were not disclosed.

One Inc, a digital payments platform provider for the insurance industry, acquired Invenger Technologies, Inc., including its flagship digital claims payment product Invenger-InsurPay. The deal expands One Inc’s claims payment capabilities and strengthens its end-to-end premium and claims payment processing offering. The acquisition follows One Inc’s recapitalization led by Great Hill Partners six months earlier.

Qgiv, a Sphere Company, acquired nonprofit payment processor and digital fundraising platform Acceptiva in partnership with strategic investor Sphere. The deal combines two nonprofit fundraising technology providers, expanding Qgiv’s payment processing and fundraising tools offering for nonprofit and faith-based clients.

Celero Commerce, a commerce solutions provider, announced the acquisition of FlashBanc, a provider of electronic payments technology and loyalty solutions. The deal expands Celero’s payments and software offering for SMB merchants, and Celero will continue operating from FlashBanc’s Boca Raton headquarters and its San Francisco area office.

Fiserv, Inc. announced the acquisition of Bypass Mobile ("Bypass"), an independent software vendor focused on enterprise point-of-sale systems. The deal is intended to enhance Fiserv’s omni-commerce capabilities by combining Bypass’s POS and back-office/insights tools with Fiserv’s payments and commerce platform. Terms of the transaction were not disclosed.

One Inc, a digital payments solutions provider focused on the insurance industry, completed a recapitalization led by Great Hill Partners. The transaction represents a change of ownership and is intended to support One Inc’s growth and sharpen its focus on insurance-specific payments capabilities, with Great Hill representatives joining the board.

H.I.G. Growth Partners invested in MX Technologies’ $100 million Series B growth financing. MX, a Lehi, Utah-based fintech data platform provider for banks, credit unions, and fintechs, will use the proceeds to support continued growth, new partnerships and investments, product innovation, and hiring.

Vitu acquired Indiana-based Title Pro Technology, LLC (Title Pro), a provider of title and registration services with Bureau of Motor Vehicles expertise. Title Pro will operate under the Vitu name, combining assets, staff, and customer contracts to expand Vitu’s electronic titling and registration (eFile/V2Gov) capabilities in Indiana.

Thoma Bravo, LLC has entered into a definitive agreement to acquire Ellie Mae in an all-cash transaction valuing the company at approximately $3.7 billion. Ellie Mae stockholders will receive $99.00 per share in cash, and the company will continue operating as a privately held business headquartered in Pleasanton, California, subject to customary approvals and closing conditions.

Realtime Electronic Payments (REPAY) acquired PayMaxx Pro, an electronic payments provider focused on the automotive industry. The deal expands REPAY’s footprint in automotive payments and broadens its software integration capabilities, with REPAY planning continued investment in consumer finance and automotive end markets.

Cboe Global Markets, Inc. announced it has acquired the assets of Silexx Financial Systems, LLC, a Sarasota, Florida-based provider of a multi-asset order and execution management system (OEMS) for institutional customers. The deal expands Cboe’s ability to offer customers access to data, analytics, and trade execution tools across equities, options, and futures markets globally. Financial terms were not disclosed.

BluePay, an all-in-one payment processing company, has acquired Wholesale Merchant Group (WMG), a provider of card payment services to small- and medium-sized merchants across the United States. The deal was sourced by Preston Todd Advisors, and the acquisition adds an experienced Florida-based sales team and a low-risk retail merchant portfolio to BluePay.

Pivotal Payments acquired a merchant portfolio from American National Payments (ANP) of St. Louis, Missouri. The transaction adds over 2,000 merchants and approximately $300 million in annual bankcard volume to Pivotal’s North American portfolio and strengthens its sales channels through an established ISO sales partner relationship.