US technology company Cantaloupe has broadened its service offering by acquiring social payments platform CHEQ.
The strategic investment positions Cantaloupe for expansion into the sports and entertainment sectors through a comprehensive suite of self-service solutions.
By leveraging mobile ordering, socially connected payments, real-time reporting, and remote support, CHEQ seeks to allow customers to streamline venue operations, increase efficiency, and boost revenue.
“The acquisition of CHEQ expands Cantaloupe’s addressable market into a new and rapidly growing sector,” said Ravi Venkatesan, CEO of Cantaloupe.
“There is tremendous synergy between both of our product lines and solutions that will grow our footprint across our combined customer base.”
Founded in 2021, CHEQ powers payments for numerous professional sports teams, entertainment venues and festival operators including the Washington Commanders (NFL), Florida Panthers (NHL), Philadelphia Union (MLS) and Miami Marlins (MLB).
Thomas Lapham, CEO of CHEQ, added: “We are looking forward to joining Cantaloupe and continuing our mission of delighting guests with a best-in-class on-premise payments experience.
“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.”