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Flywire Acquires Invoiced to Bolster its Global B2B Payment Network with Award-winning Accounts Receivable SaaS Platform
FLYWFlywire(FLYW) GlobeNewswire News Room·2024-08-06 20:05

Acquisition Overview - Flywire Corporation acquires Invoiced, a SaaS platform specializing in B2B finance automation, to enhance its B2B payments business and expand its software suite for global clients [1] - The acquisition is expected to monetize several billion dollars of domestic and international invoicing volume managed annually by Invoiced [1] - Flywire estimates the target B2B segment to be responsible for approximately 10trillioninglobalpaymentvolume[1]Invoiced′sCapabilities−Invoiced′sSaaSplatformautomatesAccountsReceivable(A/R)processes,includinginvoicemanagement,payercommunication,andpaymentreconciliationwithERPsystems[2]−TheplatformintegrateswithleadingaccountingsystemsandERPssuchasOracle′sNetSuite,SageIntacct,andMicrosoftBusinessDynamics[2]−Invoicedwasrecentlynamedthe12024A/RAutomationSoftwarebyG2Crowd[2]StrategicBenefits−ThecombinationofInvoiced′sA/RautomationsoftwarewithFlywire′sglobalpaymentnetwork,whichsupportsover140currenciesacross240countries,isexpectedtoprovideafull−suitesoftwareandpaymentssolutionfortheB2Bindustry[2]−Flywire′sCEOemphasizesthattheacquisitionalignswiththecompany′sthesisthatsoftwaredrivesvalueinpaymentsandwillaccelerateitsproductroadmap[3]MarketTrends−TheglobalAccountsReceivableAutomationrevenuemarketisprojectedtogrowfromUSD3.3billionin2022toUSD6.5billionby2027,ataCAGRof14.210 trillion in global payment volume [1] Invoiced's Capabilities - Invoiced's SaaS platform automates Accounts Receivable (A/R) processes, including invoice management, payer communication, and payment reconciliation with ERP systems [2] - The platform integrates with leading accounting systems and ERPs such as Oracle's NetSuite, Sage Intacct, and Microsoft Business Dynamics [2] - Invoiced was recently named the 1 2024 A/R Automation Software by G2 Crowd [2] Strategic Benefits - The combination of Invoiced's A/R automation software with Flywire's global payment network, which supports over 140 currencies across 240 countries, is expected to provide a full-suite software and payments solution for the B2B industry [2] - Flywire's CEO emphasizes that the acquisition aligns with the company's thesis that software drives value in payments and will accelerate its product roadmap [3] Market Trends - The global Accounts Receivable Automation revenue market is projected to grow from USD 3.3 billion in 2022 to USD 6.5 billion by 2027, at a CAGR of 14.2% [4] - Businesses are increasingly investing in A/R solutions to improve financial operations, cash flow management, and compliance with tax regulations [4] Financial Impact - Flywire expects Invoiced to contribute approximately 2 million in revenue with software-like gross margins in FY 2024 [5] - The company plans to reinvest the majority of the margin dollars to grow the combined business [5] Flywire's Core Business - Flywire is a global payments enablement and software company that combines its proprietary payments network, next-gen platform, and vertical-specific software to deliver complex payments for clients [7] - The company supports over 4,000 clients with diverse payment methods in more than 140 currencies across 240 countries and territories [9] Integration and Expansion - Flywire leverages its vertical-specific software and payments technology to embed within A/R workflows for clients in education, healthcare, travel, and key B2B industries [8] - The company integrates with leading ERP systems like NetSuite to optimize payment experiences and eliminate operational challenges [8]