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May 18, 2021Blog Posts

Payments Firm Flywire Chases $2.4 Billion Valuation in IPO

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Flywire, the payments company backed by Bain Capital and Temasek, will list its shares next week.

On Tuesday, Flywire set terms for its initial public offering. The company plans to sell 8.7 million shares at $22 to $24 each. It plans to trade on the Nasdaq market under the ticker FLYW.

Goldman Sachs, J.P. Morgan, Citigroup, and Bank of America are the underwriters on the deal. 

At $24 a share, Flywire’s valuation could hit nearly $2.4 billion. The Boston company is scheduled to price its deal next Tuesday, May 25 and trade the next day, two people familiar with the situation said. 

Flywire provides payments for healthcare, travel, and business-to-business, as well as education. It has over 2,250 customers, including more than 1,900 educational institutions and over 80 healthcare systems. The company enabled about $2.9 billion of total payment volume for the quarter ended March 31. It supports more than 130 currencies. 

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