The move aims to strengthen Flywire’s B2B payments business by expanding its software offerings and tapping into a diversified customer base.
The acquisition of Invoiced aligns with Flywire’s long-term strategy to supplement organic growth and expand across various business lines. Flywire anticipates that Invoiced will contribute approximately $2 million in revenue with software-like gross margins in FY 2024.
While Invoiced boasts healthy Adjusted EBITDA margins, Flywire plans to reinvest a significant portion of these margins to fuel the growth of the combined business. Further details regarding this acquisition will be shared during the upcoming earnings call scheduled for August 6, 2024.
By combining Invoiced’s A/R automation software with Flywire’s proprietary global payment network, the acquisition is expected to deliver a comprehensive software and payments solution that streamlines workflows for finance departments. This combined offering is poised to make a significant impact on the B2B payments industry, providing businesses with a more efficient and effective way to manage their financial operations.
“We seek M&A opportunities that will help us enhance our value proposition and strengthen our financial performance, while underscoring our core thesis that software drives value in payments,” said Mike Massaro, Flywire CEO.
“We believe Invoiced is an ideal software complement to our existing B2B payments business. Invoiced will help us significantly accelerate our product roadmap, and its Accounts Receivable product focus has strong alignment with Flywire’s global payment acceptance capabilities.”
