Flywire

Flywire offers a payment infrastructure enabling users to build payment experiences for their customers ranging from invoicing to payment reconciliation and also includes a global payment network to facilitate cross-border payments. The company’s client base includes enterprises in the education, healthcare, travel, and technologies industries. 

Flywire has acquired several companies to expand its platform, including Australia-based international education payment provider Cohort Go (in July 2022) to enhance Flywire’s existing agent solutions, particularly in the Asia-Pacific region. In February 2020, the company acquired B2C healthcare technology platform Simplee, through which Flywire aimed to optimize its digital healthcare payments and patient engagement operations. Prior to that, the company had acquired several others including OnPlan (2018) and UniPay (2015). In November 2023, Flywire acquired Australia-based StudyLink , an international student admissions, application, and agent management platform, to grow its presence and expand in the Australian higher education market.

Key customers and partnerships

In February 2024, Flywire partnered with the State Bank of India to expand product reach in India by facilitating digital cross-border payments between Indian students paying international education fees in Indian Rupees and foreign higher educational institutions. The company had also partnered with India’s largest private sector bank HDFC Bank , in November 2022, to enable students to make international education fee payments to higher education institutions across the globe. Through Flywire’s integration with HDFC Bank’s banking platform, users can make payments digitally, in compliance with LRS requirements.

Funding and financials

Flywire reportedly processed around USD 18 billion worth of transactions in 2022. In the same year, the company generated USD 289 million in revenue and reported an adjusted EBITDA margin of 5.6%. Flywire expects its revenue to grow 35-41% YoY to USD 392-408 million in 2023, and had generated 45% of this as of Q2 2023. 

In May 2021, Flywire filed to go public looking to raise up to USD 208.8 million at a USD 2.4 billion valuation.