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Flywire Corporation (symbol: FLYW) is a global leader in providing high-ticket cross-border payment solutions. The company, which was formerly known as peerTransfer, offers a scalable and secure payment platform that connects institutions on six continents with consumers worldwide. Founded to assist international students with paying their tuition fees, Flywire now serves over 800 educational institutions, processing payments from students in more than 200 countries and territories in over 100 local currencies.
Flywire's platform is designed to be convenient, fast, and secure, accepting bank transfers, online banking, and credit & debit cards. The platform also offers currency conversion at competitive exchange rates, resulting in significant savings compared to traditional banks and credit card providers. The end-to-end customer experience is enhanced through multilingual support available via phone, email, and chat, alongside 24/7 online payment tracking.
Headquartered in Boston, MA, Flywire's reach extends globally through additional offices around the world. The company's solutions are built on three core elements: a payments platform, a proprietary global payment network, and vertical-specific software backed by deep industry expertise. The bulk of Flywire's revenue comes from the Americas.
Flywire leverages its vertical-specific software and technology to integrate seamlessly with existing accounts receivable workflows for clients across education, healthcare, and travel verticals, as well as key B2B industries. The company also integrates with leading ERP systems like NetSuite, optimizing the payment experience and eliminating operational challenges.
In recent news, Flywire continues to expand its client base and global presence, supporting over 3,800 clients with diverse payment methods in more than 140 currencies across 240 countries and territories. The company has also recently signed over 200 new clients in the first quarter of 2024, reflecting its strong market penetration and growth potential.
Flywire's commitment to innovation and customer satisfaction is demonstrated through its strategic partnerships and community initiatives. Notably, Flywire is the title sponsor for Major League Table Tennis' championship weekend, highlighting its involvement in promoting burgeoning sports leagues.
For more information, visit www.flywire.com and follow Flywire on social media platforms like X (formerly known as Twitter), LinkedIn, and Facebook.
Flywire has partnered with LaLiga Business School to enhance digital payment solutions for students and families. The collaboration aims to simplify cross-border payments and improve overall operational efficiency for the school’s administration. Flywire's platform provides a secure and flexible payment experience, supporting various local methods in Spain. This partnership positions Flywire as a leader in education payments, facilitating greater accessibility for international students.
Flywire Corporation (FLYW) announced a conference call to discuss its second quarter 2021 financial results, scheduled for August 10, 2021, at 5:00pm ET. The call will be hosted by CEO Mike Massaro, President and COO Rob Orgel, and CFO Mike Ellis. A press release with the financial results will be available after market close on the same day. Flywire specializes in payment enablement, serving over 2,250 clients globally across multiple industries including education, healthcare, and travel.
Flywire Corporation (Nasdaq: FLYW) expands its digital education payments services in Canada, enabling institutions to offer diverse payment options to students. This includes domestic payments, flexible payment plans, and various billing features aimed at simplifying the payment process. The initiative responds to the growing demand for affordable education solutions as Canada hosts over 530,000 international students. Flywire's solutions address operational challenges faced by educational institutions, thus enhancing student engagement and retention.
Flywire Corporation has successfully closed its initial public offering (IPO) of 12,006,000 shares at $24.00 per share, with a total of $263.7 million in net proceeds after expenses. This follows the shares' debut on the Nasdaq Global Select Market under the ticker symbol FLYW on May 26, 2021. Major underwriters involved include Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities, among others. The offering was conducted under a registration statement filed with the SEC and does not constitute an offer to sell the securities in jurisdictions where unlawful.
Flywire Corporation announced its initial public offering (IPO) pricing of 10,440,000 shares at $24.00 each. An additional 1,566,000 shares are available through underwriters. Trading on the Nasdaq under the ticker symbol 'FLYW' is set to commence on May 26, 2021, with the offering expected to close on May 28, 2021. Major financial institutions including Goldman Sachs and J.P. Morgan are leading the offering. This move marks Flywire's entry into the public market, leveraging its global payments network to enhance payment solutions for various sectors.
Flywire Corporation plans to launch its initial public offering (IPO) with 8,700,000 shares expected to be priced between $22 and $24 each. Additionally, it may grant underwriters a 30-day option to purchase up to 1,305,000 additional shares. The company aims to list its common stock on Nasdaq under the symbol 'FLYW.' Leading managers for the offering include Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities. A registration statement has been filed with the SEC but is not yet effective, meaning the securities cannot be offered until it is.
Flywire Survey Indicates Travel Spending Surge
In a recent survey by Flywire, 70% of travelers plan to spend more on travel in 2022 than in the past five years, with 78% attributing increased budgets to savings during COVID-19. The report highlights changing travel preferences, with 86% prioritizing health guidelines, and 75% opting for less crowded destinations. A significant 65% say their first post-pandemic vacation will be longer, reflecting a shift in demand towards flexible travel arrangements. The findings suggest a likely rebound for the travel industry as consumers are eager to explore again.
Flywire has partnered with Discover to enhance payment options for international students, allowing them to use Discover, Diners Club International, and network alliance cards for tuition payments. This initiative aims to simplify the payment experience for schools and students globally amid rising tuition costs. Initially available in seven countries and six currencies, this collaboration supports Flywire's goal of providing tailored, secure online payment solutions to educational institutions, driving operational efficiencies.
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