Payments processor Flywire has raised $100 million in a Series D funding round led by Singapore's Temasek and joined by Bain Capital Ventures and F-Prime Capital.
Boston-based Flywire provides global payment and receivables technology, connecting businesses and institutions with their customers on six continents, processing more than $8 billion for over 1400 clients in business, education and healthcare.
The company's global payment network and processing platform has proved popular for large-sum international and domestic transactions, providing a single point of management and payer engagement from billing and payment through reconciliation.
The latest funding will be used to accelerate growth in North America, Europe and Asia-Pacific while also establishing a foothold in emerging markets such as Latin America, the Middle East and Africa. The firm is also looking to expand its share of the trillion-dollar commercial payments and receivables sector.
“Our strong growth is a direct result of our ability to solve the difficult pain points that exist in complex payment processes,” says Mike Massaro, CEO, Flywire. “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."