Flywire acquires Invoiced for $55M
Summary
• None International payments software provider acquired Invoiced, a business-to-business finance firm, on Aug. 2 for $55 million, including $47.5 million in cash and $7.5 million contingent on achieving performance goals, according to a filing this week by Flywire with the Securities and Exchange Commission • None The deal will enable Flywire to enhance its current B2B payments business by monetizing “several billion dollars of domestic and international invoicing volume that is managed annually by the Invoiced platform,” • None Following the acquisition, Boston-based Flywire anticipates that Invoiced will add about $2 million in revenue in fiscal year 2024. In November, the company bought the Australian education software-as-a-service provider StudyLink for $38.8 million in cash and additional amounts contingent on performance. Overall, Flywire seeks to tap deeper into the growing B2B segment, which generates an estimated $10 trillion in worldwide payment volume, per the release. “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,” Flywire CEO Mike Massaro said in the release. 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.” Beyond buying companies to boost its bottom line, Flywire has also added a new face to its C-suite.
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