Flywire

remittancesmobile/online remittancenetwork settlement

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 05/04/2021

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About

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MEDICI Analysis

peerTransfer has been rebranded as Flywire. Flywire is an online domestic and international payment platform that enables its users to make payments. It also offers a cross-border payment solution for patients traveling overseas for medical care. The company’s solution enables hospitals to offer international patients with various familiar online and offline payment options in multiple currencies. Recently, Flywire was selected for the 2019 Forbes Fintechh 50 startups list.

Focus

PRODUCTS & SERVICES

The company's cross-border platform accepts bank transfers, online banking, credit & debit cards, and claims to provide better exchange rates as compared to home-market banks and credit card providers. Once a user signs up, he/she can start a transfer process by selecting an institution, the amount in the institution's local currency, and selecting the payment method in the user's local currency. It also users to track the payment status.

REVENUE MODEL

Flywire is free to the institution and makes its money on the FX fees associated with the transactions. Flywire decides on a per currency, per transaction basis how they’ll hedge a transaction and take on the currency risk. And that one small decision – who pays and who subsidizes its platform – has had a huge impact on its business.

MAIN CLIENTS

MIT

Cornell

UTS & etc

EXISTING PARTNERSHIPS

ECSI

Ellucian

Nelnet

Oracle

Sallie Mae

Digital River

Traction

VALUATION / MARKET CAP:

$700 M in 2018

VALUATION COMMENT:

According to third party data sources, the company's valuation is at $700 Mn. (Jul. 2018)

COMPANY TYPE:

For Profit

REVENUE

$10M+ in 2018

REVENUE COMMENT:

The company claims that its annual revenue will reach $100 million by the end of 2018.

TRANSACTIONS VALUE:

$4 B in 2018

TRANSACTIONS COMMENT:

The platform has processed the value of the transaction of $4 billion in 2018. (Feb. 2019)

ACTIVE USERS COMMENT:

The company has 900 higher education customers, including seven of the eight Ivy League colleges.

company provided insights

Acquisitions

ACQUIREE NAME

Uni-Pay

ANNOUNCED DATE

Oct 2015

PRICE

---

ACQUIREE NAME

Simplee

ANNOUNCED DATE

Feb 2020

PRICE

---

ACQUIREE NAME

PACE Invoice

ANNOUNCED DATE

Jun 2017

PRICE

---

ACQUIREE NAME

OnPlan Health

ANNOUNCED DATE

Jan 2018

PRICE

---

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

296,372

AVERAGE VISITS (6 MONTHS)

368,200.25

MONTHLY VISITS GROWTH

26.71%

VISIT DURATION

1,256

VISIT DURATION GROWTH

364.03%

PAGE VIEWS VISIT

4.79

PAGE VIEWS VISIT GROWTH

-6.67%

BOUNCE RATE

37.15%

BOUNCE RATE GROWTH

-0.53%

GLOBAL TRAFFIC RANK

110,856

MONTHLY RANK CHANGE

-40,467

MONTHLY RANK GROWTH

-26.74%

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