Priority Technology Holdings Fuels Growth with acquisitions and New Funding
NEW YORK – August 20, 2025 – Priority Technology Holdings is bolstering its position in the financial technology sector through a series of strategic moves, including the acquisition of Boom Commerce and securing a $50 million credit facility. These developments signal a period of aggressive expansion for the company,which has been actively acquiring businesses to broaden its suite of payment and banking solutions.
Acquisition of Boom Commerce
Priority has acquired the customer relationships and revenue agreements of Boom Commerce, a reseller partner. This acquisition is expected to strengthen Priority’s direct sales capabilities, notably in attracting and serving enterprise clients. According to a company statement, Boom Commerce’s expertise in selling value-added services aligns well with Priority’s product sales initiatives.
as part of the deal, Sabin Burrell, former CEO of Boom Commerce, and John Hynes, former Chief Operating Officer, will join the Priority team.This infusion of talent is anticipated to accelerate the integration and maximize the benefits of the acquisition.
$50 Million Financing Facility Secured
To support its growth and expansion into alternative financing solutions, Priority has secured a $50 million delayed draw term loan facility. The company intends to use these funds to finance the purchase of eligible receivables and further develop its offerings. This financing demonstrates confidence in Priority’s business model and future prospects.
“We believe the securitization style credit facility is unique for this asset class,” stated Tim O’Leary, Priority’s Chief Financial Officer. “It’s a testament to Priority’s ability to remain at the forefront of the market as we continue to drive value for our partners and stakeholders.”
Recent Expansion and Acquisitions
This latest activity builds on a series of acquisitions Priority has made in recent months. In January, the company acquired Rollfi, adding payroll and benefit solutions to its portfolio. Prior to that, in August 2023, Priority completed the acquisition of Plastiq, a bill pay and working capital platform, aiming to create a comprehensive suite of B2B payment and working capital solutions.
Did You Know? The B2B payments market is experiencing notable growth, driven by the increasing need for businesses to optimize cash flow and streamline financial processes. According to a report by McKinsey, B2B payments are a $28 trillion market globally.
Strong Financial Performance
Priority’s strategic moves are supported by strong financial performance. The company reported net revenues of nearly $240 million in the second quarter, a 9% increase year-over-year. This growth was driven by gains in small to medium-sized business acquiring, B2B payables management, and enterprise payments.
Tom Prior, Chairman and CEO of Priority, expressed confidence in the company’s future, stating that Priority is on track to achieve 10% to 12.5% top-line revenue growth.
Key Milestones: 2023-2025
| Date | Event |
|---|---|
| August 2023 | Acquisition of Plastiq |
| January 2025 | Acquisition of Rollfi |
| August 19, 2025 | Acquisition of Boom Commerce & $50M Financing Secured |
Pro Tip: When evaluating companies in the fintech space, pay close attention to their acquisition strategy and ability to integrate new technologies and talent. This often indicates a forward-thinking approach and potential for sustained growth.
What role will strategic acquisitions play in shaping the future of the fintech industry? And how will companies like Priority navigate the evolving landscape of B2B payments?
The Evolving Landscape of Fintech Acquisitions
The fintech industry is characterized by rapid innovation and disruption, leading to a surge in mergers and acquisitions.Companies are seeking to expand their capabilities, gain market share, and access new technologies through strategic acquisitions. This trend is expected to continue as the industry matures and competition intensifies. The focus on B2B payments, in particular, is driven by the increasing demand for efficient and secure payment solutions for businesses of all sizes.
Frequently Asked Questions about Priority Technology Holdings
- What does Priority Technology Holdings do? Priority provides a range of payment and banking solutions for businesses, including acquiring, B2B payables management, and enterprise payments.
- Who acquired Boom Commerce? Priority Technology Holdings acquired the revenue agreements and customer relationships of Boom Commerce.
- How much financing did Priority secure? Priority secured a $50 million delayed draw term loan facility.
- What is Priority’s revenue growth forecast? Priority expects to achieve 10% to 12.5% top-line revenue growth.
- What other companies has Priority acquired recently? Priority recently acquired Rollfi and Plastiq.
We hope you found this article insightful. Please share it with your network, leave a comment below, or subscribe to our newsletter for more breaking news and in-depth analysis of the fintech industry.
