Payments firm Flywire plans IPO at $3 billion valuation

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Date: 26.01.2021

Flywire Corp has hired investment banks to prepare for a U.S. initial public offering (IPO) later this year that could value the payments processor at around $3 billion, people familiar with the matter said on Friday.

Flywire is working with Goldman Sachs Group Inc GS.N and JPMorgan Chase & Co JPM.N on the listing, which could come as early as this summer, said the sources, who requested anonymity to discuss the plans.

Flywire declined to comment, as did JPMorgan and Goldman Sachs, which is also an investor in the company.

Founded in 2011, Flywire has processed more than $16 billion in transactions and employs more than 550 people in offices across the United States, Europe and Asia, according to its website.

The Boston-based company is focused on facilitating payments in the education, healthcare and travel sectors, and counts Singaporean state investor Temasek Holdings TEM.UL and the venture arm of private equity firm Bain Capital among its backers.

Flywire was valued at $1 billion in a fundraising round in February 2020, according to PitchBook data.

Flywire develops a vertical payments platform designed to simplify the global payment and receivables process. Its platform utilizes vertical-specific insight and technology to optimize the payment experience while eliminating operational challenges from invoicing to payment reconciliation, enabling organizations to improve operational efficiency.

Source: nasdaq.com

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