Solving complex payment problems for businesses. Providing solutions for fintech.
Founders: Iker Marcaide
Equity Raised: $143 million
Estimated 2018 Revenue: $75 million
Lead Investors: Bain Capital Ventures, F-Prime Capital, Spark Capital, Temasek
Boston-based fintech company Flywire founded in 2009 helps universities, hospitals and businesses receive payment in foreign currencies, making money transfers cheaper and faster. Flywire allows you to pay from almost any country or bank in your home currency. Flywire does not charge bank fees. CEO Mike Massaro says revenue is growing nearly 50% a year.
Flywire solves complex payment problems for businesses and institutions to empower new opportunities globally and locally. Flywire also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking.
Paypal, Payoneer, Western union, ParentPay are the main competitors for Flywire in international fintech business. Flywire has received a total of $142M in funding. Flywire’s most recent acquisition was Onplan Health for an undisclosed amount on Jan 2018.
What’s the Difference? Innovation:
Earlier cross-border payment market is more or less dependent on the ability to work with banks. The payments space is perhaps the fastest-changing category in the financial industry. Flywire — the payments business that aims to make large-sum, cross-border transactions in education and health care simpler, more transparent and less friction-filled.
After Flywire, more consumers are attending school abroad, more patients can access health care across the globe and commerce everywhere is moving from geographic territories to the open borders of the web.