Flywire Raises $120M; Buys Simplee
Flywire, a Boston, MA-based vertical payments company, raised $120m in Series E funding. The round, which brought total capital raised to $260m, was led by Goldman Sachs, with participation from new investors Tiger Management and Adage Capital Management and existing investors. Flywire also acquired Simplee, a healthcare technology platform, The acquisition will enable Flywire to optimize the digital payments and patient engagement experience in healthcare and scale its global payments services. Flywire is a vertical payments company solving vertical-specific payment and receivables problems for organizations in education, healthcare, travel or technology sectors. To date the company has processed over $12 billion in total payments volume for over 2,000 clients around the world.