Vanco merges with Connexeo to further support faith-based and education markets

Vanco Payment Solutions and Connexeo have merged together to better serve customers in the education and faith-based markets.

The amalgamated company will operate under Vanco and will be owned by Great Hill Partners. The new business will have 225 employees and operate from offices in Minneapolis, Atlanta, Dallas, San Francisco, Washington, D.C., Cancún, Mexico and Melbourne, Australia.

Vanco’s current CEO Shawn Boom will serve in this same position in the merged enterprise, while Connexeo’s CEO Charlie Piper will act as the chairman of the board of directors.

Through the combined company, its customers and partners will benefit from a new, broader set of services to meet the needs of the education and faith-based markets. This means they can look forward to improved technology infrastructure, product development, enhanced security and a unified user experience.

Minneapolis-based Vanco is a payments processor for the faith-based and nonprofit markets. With a customer-based of around 20,000, it helps families to easily donate to causes, make a payment or a tithe. Payments can be made through texts, kiosks, online web pages and mobile applications.

Vanco CEO Shawn Boom said, “Both companies are highly complementary in our core values and services, which makes this merger incredibly exciting. Community organizations such as schools, churches and nonprofits are seeking ways to spend less time on administrative work, so they can invest their energy in areas of impact on their community.

“With this combination, we will be even better at helping our customers and partners focus on the work that matters to them.”

Connexeo is a fellow payments solution which enables clients to process payments and manage operations. Through its solutions, companies access online tools for education administration, and program, sports and music event management.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.