# Flywire Payments Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flywire-payments

- Industry: Financial Services
- Headquarters: Boston, US
- Website: www.flywire.com
- Total disclosed funding: $204M
- Latest round: Series F (Mar 4, 2021)
- Investors on record: 17

## About

Founded in 2011 by Iker Marcaide and based in Massachusetts, US, Flywire Payments Corporation doing business as Flywire operates as a provider of payment solutions that helps individuals and businesses securely transfer funds globally. Mike Massaro is the Chief Executive Officer of the company. The company’s vertical-specific software and payments technology are used by clients across the education, healthcare, and travel markets, as well as in B2B industries. Flywire serves over 2200 clients in over 240 countries and territories, in more than 130 currencies. The company also integrates its software with ERP systems, such as NetSuite for the organizations to optimize their payments and has a mobile app service called flywire pay.

In February 2020, Flywire Payments Corporation acquired Simplee, a leading healthcare technology platform, and also raised USD 120 million in Series E funding led by new investor Goldman Sachs. In March 2021, Flywire Payments Corporation raised USD 60 million in Series F funding co-led by Marshall Wace, Sunley House Capital Management, and Whale Rock Capital Partners. In 2021, the company raised USD 250 million in an IPO, by offering 10.44 million shares at USD 24 per share. As of 2021, the company staffs over 500 employees and operates from 12 offices globally. 

Flywire Payments Corporation provides payment services for connecting businesses and consumers from various continents. Flywire’s platform allows organizations to receive and reconcile payments through their preferred mode of payments for which the company has established a global network of payment partners with their global, regional, and local banking relationships. Flywire also offers several flexible and customized integration options for funds transfer such as pay by link, embedded, checkout, and API along with invoicing solutions. 

For the year ended 31st March 2021, the company recorded revenue of USD 44.99 million. 

The company’s future strategy includes the expansion of its services into new markets and the development of its strategic and channel partners ecosystem. The company intends to trade on the Nasdaq under the ticker symbol, FLYW.

## Funding rounds

- Series F, Mar 4, 2021, $60M — Advent International, Spark Capital, Marshall Wace, Adage Capital Management, Temasek Holdings, Goldman Sachs Asset Management, Whale Rock Capital Partners, Advent Global Opportunities
- Series D, Jul 3, 2018, $100M — Bain Capital, Temasek Holdings, F-Prime Capital
- Series C, Jan 7, 2015, $22M — Accel, Bain Capital, Maveron, Spark Capital, F-Prime Capital, Devonshire Investors, QED Investors
- Series B, Dec 13, 2013, $6.3M — Spark Capital, F-Prime Capital, QED Investors, Kibo Ventures, Fundación José Manuel Entrecanales
- Series B, May 23, 2013, $5.1M — Maveron, Spark Capital, QED Investors, Kibo Ventures, Fundación José Manuel Entrecanales
- Series A, Aug 11, 2011, $9.5M — Accel, Maveron, Spark Capital, Boston Seed Capital
- Series A, Oct 28, 2010, $1.1M — Spark Capital

## Investors

- Spark Capital — Series A, Series B, Series C, Series F
- Accel (https://capitalatlas.ai/funds/accel) — Series A, Series C
- Maveron (https://capitalatlas.ai/funds/maveron) — Series A, Series B, Series C
- Boston Seed Capital (https://capitalatlas.ai/funds/boston-seed-capital) — Series A
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series B, Series C
- Kibo Ventures (https://capitalatlas.ai/funds/kibo-ventures) — Series B
- Fundación José Manuel Entrecanales (https://capitalatlas.ai/funds/fundacion-jose-manuel-entrecanales) — Series B
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series B, Series C, Series D
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series C, Series D
- Devonshire Investors (https://capitalatlas.ai/funds/devonshire-investors) — Series C
- Temasek Holdings — Series D, Series F
- Advent International (https://capitalatlas.ai/funds/advent-international) — Series F
- Marshall Wace (https://capitalatlas.ai/funds/marshall-wace) — Series F
- Adage Capital Management — Series F
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series F
- Whale Rock Capital Partners — Series F
- Advent Global Opportunities (https://capitalatlas.ai/funds/advent-global-opportunities) — Series F