Flywire Acquires Invoiced to Bolster its Global B2B Payment Network with Award-winning Accounts Receivable SaaS Platform
2024年8月7日 - 5:05AM
Today, Flywire Corporation (Flywire) (Nasdaq: FLYW) a global
payments enablement and software company, announced that it has
acquired Invoiced, a SaaS platform that enables B2B finance teams
and the “Office of the CFO” to automate the critical order-to-cash
process. The acquisition is expected to build on Flywire’s existing
B2B payments business by enhancing the software suite it provides
to its global clients and target segments. Flywire plans to expand
on Invoiced’s successful track record of providing invoicing
software to a diversified client base across industries and
geographies, and reinforces its commitment to powering software and
payments to its target B2B segment, which Flywire estimates to be
responsible for approximately $10 trillion in global payment
volume.
Invoiced’s SaaS platform empowers B2B finance teams to automate
A/R processes by managing invoices, communicating with payers, and
reconciling payments to their Enterprise Resource Planning (ERP)
systems. Invoiced does this through deep integrations with leading
accounting systems and ERPs, including Oracle’s NetSuite, Sage
Intacct, and Microsoft Business Dynamics. With a diversified global
client base, Invoiced has a successful track record of delivering
mission-critical software, having recently been named the #1 2024
A/R Automation Software by G2 Crowd. The combination of Invoiced’s
A/R automation software with Flywire’s proprietary global payment
network - which supports diverse payment methods in more than 140
currencies across 240 countries and territories around the world -
is expected to provide the B2B payments industry with a combined
full-suite software and payments solution that streamlines
workflows for finance departments.
“We seek M&A opportunities that will help us enhance our
value proposition and strengthen our financial performance, while
underscoring our core thesis that software drives value in
payments,” said Mike Massaro, Flywire CEO. “We believe Invoiced is
an ideal software complement to our existing B2B payments business.
Invoiced will help us significantly accelerate our product roadmap,
and its Accounts Receivable product focus has strong alignment with
Flywire’s global payment acceptance capabilities.”
Digital transformation efforts drive demand for
automated A/R processes
Businesses are increasingly investing in Accounts Receivable
(A/R) solutions to improve their financial operations and cash flow
management. According to industry research, the global Accounts
Receivable Automation revenue market size is estimated to grow from
USD 3.3 billion in 2022 to USD 6.5 billion by 2027, at a compound
annual growth rate of 14.2% during the forecast period. This
investment includes expenditures on software, cloud services, and
integration with existing financial systems, underscoring the
critical role of A/R solutions in enhancing efficiency, reducing
errors, and supporting better financial decision-making.
Additionally, the global push for compliance with tax regulations
and the need to streamline cross-border transactions further
enhance the demand for sophisticated invoicing solutions.
Complements strong organic growth
The acquisition of Invoiced is a continuation of Flywire’s
long-term plan to supplement its strong organic growth and expand
across business lines. Flywire expects Invoiced to add
approximately $2M of revenue with software-like gross margins in FY
2024, and while Invoiced has healthy Adjusted EBITDA margins,
Flywire expects to reinvest the majority of the margin dollars this
year to grow the combined business. More details will be shared on
the upcoming earnings call scheduled for August 6, 2024.
Resources
- To learn more about Invoiced and to get a demo, please visit:
https://www.invoiced.com/
- To learn more about Flywire’s B2B payment network, please
visit: https://www.flywire.com/industries/b2b
About Flywire
Flywire is a global payments enablement and software company. We
combine our proprietary global payments network, next-gen payments
platform and vertical-specific software to deliver the most
important and complex payments for our clients and their
customers.
Flywire leverages its vertical-specific software and payments
technology to deeply embed within the existing A/R workflows for
its clients across the education, healthcare and travel vertical
markets, as well as in key B2B industries. Flywire also integrates
with leading ERP systems, such as NetSuite, so organizations can
optimize the payment experience for their customers while
eliminating operational challenges.
Flywire supports more than 4,000 clients with diverse payment
methods in more than 140 currencies across more than 240 countries
and territories around the world. The company is headquartered in
Boston, MA, USA with global offices. For more information, visit
www.flywire.com. Follow Flywire on
X, LinkedIn and
Facebook.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements regarding Flywire’s
expectations regarding the expected benefits and synergies of the
acquisition of Invoiced, the benefits of its third-party invoicing
solution, Flywire’s business strategy and plans, market size,
growth and trends. Flywire intends such forward-looking statements
to be covered by the safe harbor provisions for forward-looking
statements contained in Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995.
In some cases, you can identify forward-looking statements by terms
such as, but not limited to, “believe,” “may,” “will,”
“potentially,” “estimate,” “continue,” “anticipate,” “intend,”
“could,” “would,” “project,” “target,” “plan,” “expect,” or the
negative of these terms, and similar expressions intended to
identify forward-looking statements. Such forward-looking
statements are based upon current expectations that involve risks,
changes in circumstances, assumptions, and uncertainties. Important
factors that could cause actual results to differ materially from
those reflected in Flywire's forward-looking statements include,
among others, the factors that are described in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" sections of Flywire's Annual Report on
Form 10-K for the year ended December 31, 2023, and Quarterly
Report on Form 10-Q for the quarter ended March 31, 2024, which are
on file with the Securities and Exchange Commission (SEC) and
available on the SEC's website at
https://www.sec.gov/. Additional factors may be
described in those sections of Flywire's Quarterly Report on Form
10-Q for the quarter ended June 30, 2024, expected to be filed with
the SEC in the third quarter of 2024. The information in this
release is provided only as of the date of this release, and
Flywire undertakes no obligation to update any forward-looking
statements contained in this release on account of new information,
future events, or otherwise, except as required by law.
Contacts
Media Contact:
Sarah Kingmedia@flywire.com
Investor Relations Contact:
ICRflywireir@icrinc.com
Flywire (NASDAQ:FLYW)
過去 株価チャート
から 8 2024 まで 9 2024
Flywire (NASDAQ:FLYW)
過去 株価チャート
から 9 2023 まで 9 2024