Flywire, which provides payment processing software to education, healthcare, travel, and B2B firms, announced terms for its IPO on Tuesday.
The Boston, MA-based company plans to raise $200 million by offering 8.7 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Flywire would command a fully diluted market value of $2.6 billion.
Flywire provides a global payment network and vertical-specific payment software to clients in specific industries. The company aims to provide personalized omni-channel payment experiences that combine invoicing tailored to specific clients and flexible payment options. The company currently serves over 2,250 clients around the world, including more than 1,900 education institutions, 80 healthcare systems, and 200 travel and B2B clients
Flywire was founded in 2009 and booked $144 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol FLYW. It had been on our Private Company Watchlist since February 2020. Goldman Sachs, J.P. Morgan, Citi, BofA Securities, Raymond James, RBC Capital Markets, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of May 24, 2021.
