New IPO filing FlyWire $FLYW – Payment Fintech Company

$FLYW Flywire a payment tech company filed to go public privately.

$FLYW Flywire is a global payments company that attracted more than $300M as a startup, most recently raising a $60M in April 2021.

The expected valuation is $3B. $FLYW is looking to raise $100M in its IPO.

The Boston-based company, which was founded in 2011 by Iker focuses on payments in the education, healthcare and travel sectors. The company was initially formed in July 2009 as peerTransfer Corp., but changed its name to Flywire in December 2016.

$FLYW recorded $44.99M in revenue for the three months ended March 31, up from $32.71M in the same period a year ago.

Flywire is working with Goldman Sachs Group Inc and JPMorgan Chase & Co on the listing, which could come as early as July 2021.

$FLYW has processed more than $16B in transactions and employs more than 550 people. Flywire CEO Mike Massaro is focused on growing the company in the education space & travel.

The company processes payments in more than 240 countries and territories worldwide and said it offers over 250 payment methods to its 2,250-plus clients.

2019 calendar year, the company generated revenue of $94.9M and losses of $20.1M.

$FLYW revenue grew to $131.8 million (+39%) with a net loss of $11.1 million (+45%).

Flywire powers more than 50 leading U.S. hospitals and health system & Processes $14 B in patient transactions, representing more than ⅓ of U.S. households.

In Feb 2020, Flywire acquired Simplee, a healthcare technology platform, to optimize the digital payments and patient engagement experience in healthcare and scale its global payments services.

Global payments revenue is expected to grow at a 5.9% CAGR from 2019-2028 to become a $2.5T industry by 2028.