Trade Flywire Corp - FLYW CFD

Flywire Corporation Company profile

About Flywire Corp

Flywire Corp is a United States-based provider of cross-border payment solutions. The Company processes payments on behalf of students from over 200 countries and territories, in approximately 70 local currencies. The Company serves over 900 colleges, universities and other educational institutions. The Company’s platform accepts bank transfers, online banking, and credit and debit cards, and provides currency conversion at exchange rates. The Company offers multilingual servicing through phone, email and chat, as well as around the clock online payment tracking. The Company serves both education providers and medical providers. The Company’s platform receives, converts and delivers the funds to the institution, and notifies it to the customer. The Company sends funds to institutions through batch disbursements. The Company has international operations in London and Manchester, the United Kingdom; Shanghai, China, and Valencia, Spain.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Flywire Corp revenues increased 53% to $201.1M. Net loss increased from $11.1M to $28M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Change in fair value of preferred stock increase from $625K to $10.8M (expense), Other income (expense), net decrease of 84% to $109K (income).