What Flywire does

Flywire Corporation (NASDAQ: FLYW) is a global payments enablement and software company that processes complex cross-border transactions for 5,000+ institutional clients across education, healthcare, travel and hospitality, and B2B. Founded in 2011 as peerTransfer and rebranded at its May 2021 NASDAQ IPO, the company operates the Flywire Global Payments Platform — a multi-rail, regulated network processing payments in 140+ currencies across 240+ countries and territories with 1,200+ local payment methods. The platform underpins four vertical-specific software modules: Student Financial Software (integrated with 70+ SIS and a 20,000-agent recruitment network), Invoice-to-Cash automation, Hospitality Payments (including the Sertifi product line covering ~20,000 U.S. hotels), and Healthcare Revenue Cycle Management. Underlying the network is AI-powered automation for payment routing, FX optimization, fraud monitoring, and a chatbot (Ivy) that has reduced payer support tickets by 40%.

The company monetizes through three revenue streams: transaction-based fees on payment volume (FY2025 TPV exceeded $9.3B in Q4 alone), recurring SaaS subscriptions for its vertical software modules, and FX margins on currency conversion. Distribution combines direct enterprise field sales targeting large institutions through RFP-driven cycles (e.g., Penn State RFP for 100,000+ students) with a self-serve payer portal at pay.flywire.com supporting 1,200+ local methods. The company has shifted from a cross-border education-payments origin to a multi-vertical platform through acquisitions of Cohort Go (2022, APAC), StudyLink (2023, Australia), Invoiced (2024, B2B AR), and Sertifi (2025, $330M, hospitality), and through strategic distribution partnerships with Citibank, TenPay Global, and Simovative/academyFIVE.

Operationally, Flywire has reached profitability inflection: FY2025 revenue of approximately $603M (+27% YoY), 61% gross margin, positive EBITDA, and 116% net revenue retention. Q1 2026 revenue accelerated to $188.1M (+46.1% YoY). The company maintains offices in Boston (HQ), London (European HQ), Manchester, Sydney, and Shanghai. Recent leadership additions include CTO Patrick Blanc (ex-Visa, PayPal, Ingenico) and board member Christine Katziff (former Bank of America Chief Audit Executive). The platform is SOC 2 Type II, PCI DSS, HITRUST CSF, and CSA STAR certified, and operates an active stablecoin pilot across 1,000+ clients alongside a $300M share repurchase authorization.

Name

Flywire

Legal name

Flywire Corporation

Website

https://flywire.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Flywire Corporation is a NASDAQ-listed global payments enablement and software company that processes complex cross-border transactions for 5,000+ institutional clients across education, healthcare, hospitality, and B2B through its multi-rail network spanning 240+ countries and 140+ currencies.

Ownership category

akta.pro rank

Product category

Cross-Border Payments Platform

NAICS

Telecommunications Resellers and Agents for Wireless Telecommunication Services (51712)

SIC

Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

International Bill Pay & Cross-Border Airtime/Top-Up (FSAGAKAM)

akta.pro secondary industries

SME & Business Cross-Border Payments (B2B) (FSAMAIAB), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

Keywords

• Cross-border payments
• Payment processing platform
• Vertical payments software
• Tuition management
• Invoice-to-cash automation

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction-based Payment Processing: Flywire earns transaction fees on payments processed through its platform. Revenue is driven by total payment volume (TPV) across education, healthcare, travel, and B2B verticals. FY2025 revenue was $603 million with 27% year-over-year growth.
2. Software/SaaS Subscriptions: Revenue from software licensing for Student Financial Software, invoice-to-cash automation, and hospitality payment solutions. Includes software fees for e-bill presentment, payment plans, collections, and ERP integrations.
3. Foreign Exchange Margins: Revenue earned through foreign exchange margins when converting currencies across the global payment network. Supports clients paying in local currencies while institutions receive settlement in theirs.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Flywire operates a global payments platform that processes cross-border transactions in 140+ currencies across 240+ countries using 1,200+ local payment methods, layered with vertical-specific software for higher education (Student Financial Software), B2B (Invoice-to-Cash), hospitality (Sertifi), and healthcare (Revenue Cycle Management). The platform combines multi-rail regulated payment flows, 100+ certified ERP/SIS/CRM/EHR integrations, AI-driven automation, and embedded compliance (AML/CTF, PCI DSS) to serve 5,000+ institutional clients.

Product overview

Flywire is a global payments enablement and software company operating a unified platform-plus-modules architecture. At its core is the Flywire Global Payments Platform — a multi-rail, regulated payment network processing transactions in 140+ currencies across 240+ countries with 1,200+ local payment methods and 100+ pre-built ERP, SIS, CRM, and EHR integrations. Built on this platform are four vertical software solutions: Student Financial Software (SFS) for tuition and fee management in higher education; Invoice-to-Cash Software for B2B accounts receivable automation; Hospitality Payment Solutions (including the acquired Sertifi brand) for hotel and event payment workflows; and Healthcare Revenue Cycle Management for medical billing. Supporting features include Pay-by-Link, Checkout, and the Flywire API for custom integrations. The company has also expanded via acquisitions of StudyLink (international student admissions software), Cohort Go (Asia-Pacific education payments), and WPM (UK payment platform). Notable recent launches include a digital scholarship disbursement model (scaling its 529 college savings plan template), Weixin Pay integration for Chinese students in South Korea and Malaysia via TenPay Global, a Penn State full tuition management rollout, a 90-property Driftwood hospitality expansion, and an international Sertifi hotel expansion. Flywire also operates a stablecoin pilot with 1,000+ clients and integrates AI for automated support, payment optimization, and fraud detection.

Differentiator

Problem solved

Functional benefit

Brands

• Flywire Payments Corporation: Subsidiary entity for payment processing services
• Flywire Global Corp.
• Flywire LatAm Corporation
• Flywire AEA Corporation
• Flywire Healthcare Corporation
• OnPlan Holdings, LLC
• Invoiced, Inc.
• Sertifi, LLC
• Simplificare Inc.

Products and services

• Flywire Global Payments Platform Flywire's core multi-rail, regulated global payment network that processes payments in 140+ currencies across 240+ countries and territories, supporting 1,200+ local payment methods. The platform provides the underlying infrastructure for all vertical solutions and integrates with ERP, SIS, CRM, and EHR systems.
• Student Financial Software (SFS) Vertical software for higher education institutions that automates student financial workflows including e-bill presentment, payment plans, past-due collections, eRefunds, 1098-T presentment, and Third-Party Invoicing. Integrated with 70+ SIS and education systems globally and connected to a network of 20,000 education recruitment agents.
• Invoice-to-Cash Software B2B accounts receivable automation software that enables enterprises to automate the entire billing process from invoicing through settlement, with embedded cross-border payments supporting 140+ currencies across 240+ countries. Designed to reduce manual reconciliation and optimize exchange rates.
• Hospitality Payment Solutions (including Sertifi) Payment and authorization solutions for hotels, travel operators, and event venues, including the Sertifi product for hotel contract signing and deposit workflows. Supports ACH payments, electronic signatures, card processing, and event payment management across luxury booking and group event scenarios.
• Flywire Healthcare Revenue Cycle Management Healthcare billing and payment solution that provides patients with flexible and secure options to pay medical bills online or in-person, integrated with hospital EHR and revenue cycle management systems. HITRUST CSF certified for PHI handling.
• Flywire API / Developer Platform Public API and developer platform enabling clients to integrate Flywire's payment processing capabilities into their own systems. Includes API, Pay-by-Link, and Checkout integration methods, supported by 100+ pre-built certified ERP, SIS, CRM, and EHR integrations.
• Sertifi Hospitality-focused software brand providing hotel contract signing, electronic signature, and payment deposit workflows for hotel events. Contributing $14.2 million in Q4 2025 revenue and being expanded internationally.
• StudyLink International student admissions and management software acquired by Flywire in November 2023 to enhance its presence in the Australian education sector. The platform integrates with Flywire's payment technology to streamline the student payment journey.
• Cohort Go International education payments provider acquired by Flywire in July 2022 to enhance its payments platform and expand in the Asia-Pacific region, boosting Flywire's agent network and improving payment services for international students.

Quantifiable outcome

• 30% lower payment processing costs across 10 Driftwood Hospitality properties in five months
• +6 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration46 records

AI capability8 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered major, core and strategic.

• Scholarship AmericamajorStrategic or Co-development Partner · 9 June 2026Partnership with nation's largest nonprofit scholarship administrator to digitize electronic scholarship disbursements. Will replace 110,000+ annual paper checks with digital ACH payments, replicating Flywire's proven 529 college savings plan disbursement model that has facilitated over $9 billion in electronic payments across 800+ institutions.
• Driftwood Hospitality ManagementmajorStrategic or Co-development Partner · 22 May 2026Expanded partnership to deploy Flywire's hospitality payment solutions across nearly 90 U.S. hotel properties. Solutions include ACH payments, electronic signatures, and card processing with lower risk. Flywire demonstrated nearly 30% cost reduction across 10 Driftwood properties in five months. Driftwood manages 15,000+ rooms across Marriott, Hyatt, Hilton, IHG brands.
• KnowBe4majorStrategic or Co-development Partner · 26 April 2026Three-year agreement making Flywire KnowBe4's preferred global payments partner for accounts receivable and international payments. KnowBe4 serves 70,000+ organizations globally. Partnership enables payments in 140+ currencies across 240+ countries, expected to reduce manual reconciliation by 95% and generate millions in annual payment volume.
• SertificoreTechnology or Integration · 14 March 2026Acquired for $330 million in Q4 2025. Sertifi provides hospitality payment solutions including approximately 20,000 hotel locations in the U.S. Flywire is preparing international launch of Sertifi hospitality product by year-end 2026.
• Simovative GmbH / academyFIVEcoreTechnology or Integration · 4 February 2026Flywire selected as preferred payment provider for academyFIVE Campus Management System serving 70+ higher education institutions in DACH region (Germany, Austria, Switzerland). Flywire's payment platform embedded directly within academyFIVE's Finance module, offering hundreds of payment options in native currencies with automated invoicing and audit-ready reconciliation.
• TenPay GlobalcoreTechnology or Integration · 3 December 2025Expanded partnership with Tencent's cross-border payment platform to offer Weixin Pay as tuition payment option for Chinese students at universities in South Korea and Malaysia. Chinese enrollment in Malaysia grew fivefold from 2019 to 47,000+ students; South Korea hosts 73,500 Chinese students. Direct integration allows payments in RMB via WeChat app with automated reconciliation for institutions.
• StudyLinkcoreTechnology or Integration · 7 November 2023Acquired to enhance Flywire's presence in Australian education sector. StudyLink provides international student admissions and management software. Integration aims to streamline student payment journey and support growth through increased demand for international education in Australia.
• Cohort GocoreTechnology or Integration · 13 July 2022Acquired to enhance Flywire's payments platform and expand in Asia-Pacific region. Deal aimed to boost Flywire's agent network, improve payment services for international students, and support growth in global education markets.
• WPM Software LimitedcoreTechnology or Integration · 15 December 2021Acquired UK-based software provider. WPM hosts and provides infrastructure for the WPM Payment Platform in the UK. Flywire's sub-processor list confirms WPM Software Limited provides hosting and infrastructure services.
• CitibankstrategicTechnology or IntegrationStrategic partnership with Citibank outlined in operational priorities for 2026. Citibank serves as payment/collection partner for global accounts.

Scale indicators19 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Wise (formerly TransferWise): Wise provides cross-border multi-currency payments for consumers and SMBs with transparent FX, comparable to Flywire's cross-border payment rails and FX margin economics, though Flywire is more vertical-software-led.
• Nelnet (Nelnet Campus Commerce / FAC): Nelnet's campus commerce and FAC tuition management businesses compete head-to-head with Flywire in U.S. higher education payment processing, SIS integrations, and student account servicing — directly comparable product, customer base, and vertical focus.
• TransferMate (FIS): TransferMate, acquired by FIS, is the closest pure-play competitor to Flywire's B2B cross-border education and enterprise payment rails, offering multi-currency settlement, local payment methods, and integrated education-industry workflows.
• Conduent Education Payments: Conduent's commercial solutions include K-12 and higher education tuition payment processing and revenue cycle management, making it a direct vertical competitor to Flywire's Student Financial Software and education payments suite.
• Bill.com: Bill.com's AP/AR automation and B2B payments platform directly overlaps Flywire's Invoice-to-Cash offering for SMB and mid-market enterprises with multi-currency, cross-border, and ERP-integrated workflows.
• HighRadius: HighRadius offers AI-powered invoice-to-cash and treasury automation for mid-market and enterprise B2B AR, competing directly with Flywire's Invoice-to-Cash software in reducing DSO, automating reconciliation, and integrating with ERPs.
• Payoneer: Payoneer's cross-border B2B payout and receivables platform serves SMBs and enterprises with multi-currency receiving, similar to Flywire's B2B vertical and overlapping use cases in marketplaces and global services.
• Airwallex: Airwallex is a B2B cross-border payments and FX platform offering multi-currency accounts, local payment methods, and embedded APIs — directly comparable to Flywire's Invoice-to-Cash and global payment network on product and target customer.

Broad incumbents

• Stripe: Stripe's global payments infrastructure, multi-currency processing, and Connect/Billing products provide an alternative for Flywire's enterprise B2B and consumer-facing checkout use cases, though without Flywire's vertical-specific software layer.
• Adyen: Adyen's unified global payments platform with multi-currency settlement and acquiring competes with Flywire at the enterprise payment-rail layer for large institutional clients, particularly in travel and B2B verticals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Flywire
• YouTubevimeo.com/flywire
• Facebookfacebook.com/Flywire
• LinkedInlinkedin.com/company/flywire
• Instagraminstagram.com/insideflywire

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds10 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flywire