Flywire, which provides payment processing software to education, healthcare, travel, and B2B firms, raised $251 million by offering 10.4 million shares at $24, the high end of the range of $22 to $24. The company offered 1.7 million more shares than anticipated. At pricing, the company commands a fully diluted market value of $2.8 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 plans to list on the Nasdaq under the symbol FLYW. Goldman Sachs, J.P. Morgan, Citi, BofA Securities, Raymond James, RBC Capital Markets, and William Blair acted as lead managers on the deal.
