Malvern-based payment processor Cantaloupe recently acquired Cheq, a Kirkland, Washington-based payments startup, for an undisclosed amount, writes Rick Morgan for the Philadelphia Business Journal. 

“Joining forces will allow us to bring their market-leading innovation to our current customer base, and to expand our technology offering through Cantaloupe’s national and international distribution network,” said Thomas Lapham, co-founder and CEO of Cheq. 

Cantaloupe is acquiring Cheq after the payments startup raised $13.3 million in October 2022. The funding round consisted of an $8 million seed round and the remainder was in the form of future equity notes. Since then the company has expanded from 18 full-time employees to 43, as listed on LinkedIn. 

Cheq helps businesses attract customers by sending alerts to nearby consumers on various deals and coupons. The platform also can notify consumers inside stadiums which bars and restaurants in the area will still be open after an event. 

Meanwhile, Cantaloupe’s technology provides clients with a way to accept cashless payments at vending machines, laundromats, and gaming machines, among others. The company has over 250 employees and nearly 30,000 customers. 

Cantaloupe previously acquired Three Square Market in December 2022 for $41 million. 

Read more about Cantaloupe acquiring Cheq in Washington in the Philadelphia Business Journal. 

______