Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 75

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 75
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 our cloud-based software to be highly scalable across the types of clients we serve, aiming to solve unique payments and accounts receivable challenges of education, healthcare, travel, and B2B. For example, we have launched over 10,000 client payment portals, each built on our shared payments platform and global payment network but tailored to our clients’ brands and 

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needs. In addition, our software solutions include interactive dashboards to manage payments, reporting tools to streamline reconciliation and customer communication tools to personalize and digitize engagement. This enables us to be a hub of omni-channel connectivity, augmenting the relationship between our clients and their customers. 

These three core elements of our business fuel a powerful and accelerating flywheel. When we started Flywire, we built a robust payments platform that solved pain points for cross-border payments and delivered simplicity, transparency, and cost-effective solutions. Continued adoption of our payments platform has enabled us to enhance engagement with our clients, create more personalized connections for our clients’ customers and extend our reach. Adding new clients and their customers builds our global scale and deepens our knowledge and expertise, enabling us to streamline and automate complex accounts receivable functions. As shown in the illustration below, as the number of clients using our next-gen payments platform grows, we are able to continue to enhance our end-to-end solutions, tailor our vertical-specific software and expand our global payment network to support more local payment types. 

The benefits of our flywheel are visible in the significant scale we have achieved to date. As of December 31, 2024, we serve approximately 4,500 clients around the world, excluding clients acquired from the acquisition of Invoiced Inc. (Invoiced). In education, we serve more than 3,100 institutions. In healthcare, we serve more than 100 healthcare systems, including four of the top 10 healthcare systems in the United States ranked by hospital size. In our travel and B2B verticals, we have a growing portfolio of approximately 1,300 clients. 

Our business model is designed to encourage rapid, widespread utilization of our solutions. We enable our clients to scale the use of Flywire to an unlimited number of customers with favorable unit economics. For the years ended December 31, 2024 and 2023, we enabled over $29.7 billion and over $24.0 billion, respectively, of total payment volume across more than 140 currencies.

The value of our Flywire Advantage has been recognized, with global financial institutions and