Payments Platform Flywire Files to Go Public in the US
- The company is seeking around $3 billion valuations.
Flywire, a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term platform with a global footprint, announced on Monday that it has officially filed for an initial public offering (IPO) to list its stocks on the United States Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.
The company has filed a registration form on S-1 with the U.S. Securities and Exchange Commission (SEC) for the public listing. The latest move came after Flywire filed a draft registration with the regulator in March.
Though crucial details like numbers of shares to be offered and the price range are yet to be determined, the earlier draft filing revealed that the company might seek a valuation of around $3 billion.
Monday's filing revealed that the payments giant wants to list its shares on Nasdaq under the ticker ‘FLYW’. In addition, it has appointed Goldman Sachs, J.P. Morgan, Citigroup and BofA Securities as the lead book-running managers for the proposed public offering.
Revenue Is Growing Strongly
The S-1 Form has been submitted after Flywire witnessed a revenue surge of around 28 percent. However, it recorded a net loss of $11.1 million in revenue of $131.8 million in 2020, while the losses were at $20.1 million in revenue of $94.9 million in 2019.
Headquartered in Boston, Flywire was founded in 2011 and one of the heavily funded payment startups. It has raised more than $323 million from 32 investors to date, according to Crunchbase. The latest funding round was closed last year when it raised $120 million.
Additionally, the company has acquired five other startups over the years. Finance Magnates earlier reported on the acquisition of Simplee that allowed Flywire to enter the healthcare payments market.
“Flywire is uniquely built on a global payments network, which is the cornerstone of how we move billions of dollars across 200+ countries and 150 currencies, and an industry-leading payments platform,” Flywire CEO, Mike Massaro said earlier.
Flywire, a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term platform with a global footprint, announced on Monday that it has officially filed for an initial public offering (IPO) to list its stocks on the United States Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.
The company has filed a registration form on S-1 with the U.S. Securities and Exchange Commission (SEC) for the public listing. The latest move came after Flywire filed a draft registration with the regulator in March.
Though crucial details like numbers of shares to be offered and the price range are yet to be determined, the earlier draft filing revealed that the company might seek a valuation of around $3 billion.
Monday's filing revealed that the payments giant wants to list its shares on Nasdaq under the ticker ‘FLYW’. In addition, it has appointed Goldman Sachs, J.P. Morgan, Citigroup and BofA Securities as the lead book-running managers for the proposed public offering.
Revenue Is Growing Strongly
The S-1 Form has been submitted after Flywire witnessed a revenue surge of around 28 percent. However, it recorded a net loss of $11.1 million in revenue of $131.8 million in 2020, while the losses were at $20.1 million in revenue of $94.9 million in 2019.
Headquartered in Boston, Flywire was founded in 2011 and one of the heavily funded payment startups. It has raised more than $323 million from 32 investors to date, according to Crunchbase. The latest funding round was closed last year when it raised $120 million.
Additionally, the company has acquired five other startups over the years. Finance Magnates earlier reported on the acquisition of Simplee that allowed Flywire to enter the healthcare payments market.
“Flywire is uniquely built on a global payments network, which is the cornerstone of how we move billions of dollars across 200+ countries and 150 currencies, and an industry-leading payments platform,” Flywire CEO, Mike Massaro said earlier.