- Funding will contribute to Flywire’s rapid growth
- The company aims to provide large-sum cross-border payments around the world
- Recent funding round led by Singaporean investment company Temasek
Flywire just announced that it has raised $100m from its Series-D round and that Singapore-based investment firm Temasek led the round. Temasek is not alone in funding the payment solutions company, however, as existing investors joined the round as well. This included F-Prime Capital and Bain Capital Ventures.
A company that offers payment solutions for businesses, Flywire is reportedly doing well as it has already processed a whopping $8bn for thousands of clients since its inception. Today, the company’s platform is the gold standard for large international money transfers as well as domestic transfers.
Flywire’s CEO Mike Massaro said: “Our strong growth is a direct result of our ability to solve the difficult pain points that exist in complex payment processes. By taking the friction out of initiating, processing and reconciling large-sum international and domestic payments, we empower our clients to capitalise on their business opportunities and optimise their customer relationships. The potential for Flywire is massive and the additional investment and guidance from Temasek will help us take full advantage of it.”
The company pursued its expansion efforts in Ireland, Singapore, China, Australia and Japan in the past 12 months and, based on recent data, its overall growth is over 80%. It is no wonder that investors trust the brand.
Bain Capital Ventures’ managing director Matt Harris claimed that Massaro and his accompanying team have worked to identify a massive market opportunity within the payments and receivables landscape that is prediction to continue its rapid expansion as digital processes erase traditional economic borders, noting that Flywire has unfailingly outperformed expectations and proved its capacity to manage and expand a global business at scale.
Find out more about international money transfer solutions here.
