← State of Embedded Finance 2026

Flywire

Can a global payments and receivables platform for complex, high-value verticals (education, healthcare, B2B) become the financial operating system for institutional receivables worldwide?

Founded2011
HQBoston, MA, USA
IndustryFintech / Cross-border payments
The story

Founded in 2011 as peerTransfer, Flywire originally focused on simplifying international tuition payments for universities. The company rebranded to Flywire and expanded beyond education into healthcare and B2B verticals, building a global payment and receivables platform handling complex, high-value cross-border transactions. After its 2021 Nasdaq IPO, Flywire deepened its vertical SaaS approach by embedding financing (patient financing in healthcare) and expanding ERP integrations, positioning itself as a full receivables and payments OS for institutions.

Last 12 months
2026-03
Product timeline
2011
Founded as peerTransfer, focused on international student tuition payments.· pivot
2021
IPO on Nasdaq (FLYW), establishing public company status.· ipo
2024
Expanded revolving credit facility to $125M via Amended and Restated Credit Agreement with four banks.· banking
2024
Launched integrated patient financing solution for healthcare providers, enabling non-recourse interest-free patient financing.· lending
The stack
Lending
Integrated patient financing (non-recourse, interest-free)
Accounting
NetSuiteSalesforce CRMOracleSAP
Accounting gap: minor