Celero buys payment processing peer

Payment processing and software company Celero Commerce has acquired a former Inc. 5000 company that brings it an on-the-ground presence in Florida and Northern California as well as expertise in loyalty and social marketing tools.

Terms of Brentwood-based Celero’s purchase of FlashBanc aren’t being disclosed. FlashBanc, which was founded in 2008, is home to 20 people, 13 of them working from San Francisco and the remainder in Boca Raton. The company made the Inc. 5000 three times in a row in the middle of the 2010s, when it grew to process about $1 billion worth of transactions annually for small and mid-sized businesses.