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February 14, 2020

Flywire raises $120m in investment round led by Goldman Sachs

Payment solutions provider Flywire has raised $120m in Series E investment round led by Goldman Sachs.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
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  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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The existing backers of the company and new investors Tiger Management and Adage Capital Management also joined the round.

It follows a $100m investment round in 2018, which was led by Singapore-based Temasek.

With the latest fundraising, Flywire has secured a total investment of $260m. The company plans to utilise the proceeds to support its growth increasing ongoing investment in its multi-vertical strategy.

Goldman Sachs Merchant Banking Division managing director Ashwin Gupta said: “We are thrilled to lead the Series E round for Flywire.

“They bring together a unique blend of a payments network, platform and vertical-specific solutions to completely digitise the payments experience for their clients across industries. We look forward to continuing to help accelerate Flywire’s growth.”

Simplee acquisition:

Besides raising $120m, Flywire has acquired healthcare technology platform Simplee to further bolster its healthcare payments business.

With this acquisition, Flywire seeks to enable patients and healthcare service providers to settle payments faster.

Together, the two companies will process more than $10bn in patient payments annually.

Flywire CEO Mike Massaro said: “Flywire is uniquely built on a global payments network, which is the cornerstone of how we move billions of dollars across 200+ countries and 150 currencies, and an industry-leading payments platform.

“This digital foundation enables us to develop vertical-specific applications that make payments more efficient and cost-effective for our global clients.

“The Simplee acquisition improves patient engagement and healthcare affordability and extends these capabilities to a broader customer base.”

In December last year, Flywire partnered iSAMS to streamline tuition payments.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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