Peloton Technologies Acquires KIS Payments to Enhance Its FinTech Offerings

The Victoria-based FinTech startup Peloton Technologies has announced the acquisition of Nanaimo, British Columbia-based payment processing startup KIS Payments. The deal's financial details were kept a secret.

According to a statement by the companies, the acquisition evolved from KIS’ involvement in Peloton’s partner program, where KIS was the first independent sales organization to join in January 2022, providing companies with referral revenue and integrations with Peloton’s platform.

The acquisition, announced four months after Peloton received $1.5 million in funding from the Pacific Economic Development Agency of Canada (PacifiCan), allows Peloton to expand its client base and sales teams, facilitating the rapid scaling of its service offerings.

Peloton Technologies, founded in 2011, offers a unified SaaS payments platform that enables users and merchants to process payments, complete transfers, exchange currency, and store payment data in one place. KIS Payments, founded in 2017, connects in-store and online payment processing solutions for businesses.