Flywire, a global leader in payment solutions, has announced its acquisition of Invoiced, a prominent accounts receivable automation platform. This strategic move aims to bolster Flywire’s B2B payment network and expand its capabilities in managing complex international transactions.
The acquisition, valued at $250 million, aligns with Flywire’s strategy to enhance its service offerings for businesses operating on a global scale. Invoiced’s advanced invoicing and collections technology will integrate with Flywire’s existing infrastructure, providing clients with a more seamless and efficient payment experience. This integration is expected to streamline the accounts receivable process, reducing the time and costs associated with managing B2B payments.
Flywire’s CEO, Mike Massaro, emphasized the significance of this acquisition, stating, “Invoiced’s innovative solutions perfectly complement our mission to transform the global payments landscape. By combining our strengths, we will deliver unparalleled value to businesses around the world.”
Invoiced’s platform is renowned for its user-friendly interface and powerful automation features, which help businesses accelerate their cash flow and minimize manual administrative tasks. This acquisition will enable Flywire to offer a more comprehensive suite of services, from payment processing to accounts receivable management.
The deal also marks a significant step in Flywire’s expansion strategy, as the company aims to capture a larger share of the global B2B payments market. The integration is expected to be completed by the end of Q4 2024.