The latest payment processing company run by Greg Daily has acquired three companies, including one in Nashville, that have doubled the company’s annual volume to about $4 billion.
Eighteen-month-old Charge Payment recently snapped up locally based Advanced Payment Solutions, as well as companies in Denver and Los Angeles, to go with its previous acquisitions based in Georgia and New York. The company also has closed on a senior credit line with FirstBank to help fund these deals and others that will follow. That facility complements the more than $16 million Daily raised earlier this week from his area network.
Charge Payment’s newly acquired companies are:
• Advanced Payment Solutions, which was founded by Debbie Bowles and Jennifer Brinkman, and has grown its client base to more than 2,000 in southern Kentucky and Middle Tennessee. The company focuses on larger merchants and has of late been working the utility payments sector.
• Data Business Systems, which was founded in Denver by CEO Hume Miller and specializes in the education software and payments sectors. The company serves more than 5,500 schools around the country.
• L.A.-based Payment Systems, which is run by CEO Matt Wiltsey and is Charge Payment’s largest deal to date. The company has more than 6,000 merchant clients and processes more than $1.5 billion in annual payments.
“These companies enhance our presence in the education vertical and establish a foothold in utilities,” said Daily, who last year said his newest venture would focus on a number of industry sectors. “They enhance our technological capabilities, scale our payment volume, and bring experienced entrepreneurial staff and management.”