Flywire Corporation has announced the acquisition of Invoiced, an industry-leading SaaS platform renowned for its Accounts Receivable (A/R) automation capabilities. This strategic acquisition aims to significantly enhance Flywire’s global B2B payments solutions by integrating Invoiced’s advanced workflow automation technology.
Expanding Capabilities and Market Reach
Invoiced’s robust platform streamlines the A/R process for mid-market companies by automating invoicing, payment reconciliation, and payer communications. This integration is poised to enhance Flywire’s current offerings, allowing for a more comprehensive suite of services to its global clientele. Flywire will utilize Invoiced’s platform to penetrate the B2B payments space further, targeting a market estimated at $10 trillion in global payment volume.
“Invoiced’s award-winning A/R software is a perfect complement to our global payments network,” said Mike Massaro, CEO of Flywire. “This acquisition aligns with our strategy to drive growth through software innovations that enhance our B2B payment solutions.”
A Significant Leap in A/R Automation
Invoiced, recently recognized as the top A/R automation software of 2024 by G2 Crowd, offers deep integrations with leading ERP systems like Oracle NetSuite, Sage Intacct, and Microsoft Business Dynamics. This capability ensures seamless management of financial workflows and reconciliations, contributing to operational efficiency and better financial oversight.
The global market for A/R automation is projected to grow from $3.3 billion in 2022 to $6.5 billion by 2027, reflecting a compound annual growth rate of 14.2%. This growth underscores the increasing importance of automated solutions in optimizing financial operations and supporting informed decision-making.
Strategic Growth and Future Outlook
Flywire’s acquisition of Invoiced is part of its broader strategy to augment its organic growth with strategic acquisitions. The company expects Invoiced to contribute about $2 million in revenue for fiscal year 2024, with plans to reinvest most of this into further business development.
The integration of Invoice is expected to provide Flywire with significant opportunities to monetize billions of dollars in domestic and international invoicing volume, thereby expanding its market footprint and accelerating its investment in software and payments innovation.
About Flywire
Flywire is a global payments enablement and software company dedicated to transforming complex payment processes. By combining a proprietary global payments network with next-generation technology, Flywire serves clients from education, healthcare, travel, and B2B industries. The company operates across 240 countries and territories, supporting over 4,000 clients with diverse payment solutions.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act 1995, reflecting Flywire’s expectations regarding the benefits of acquiring Invoiced and the company’s future performance. Actual results may differ materially due to various factors. For more information on potential risks and uncertainties, please refer to Flywire’s SEC filings.
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