Payments firm Flywire files for U.S. IPO

[May 03, 2021]  (Reuters) -Flywire Corp has filed for an initial public offering in the United States, a regulatory filing showed on Monday that also revealed the payments firm posted a 38% surge in revenue in its latest quarter.

The company, which was founded in 2011 and focuses on payments in the education, healthcare and travel sectors, is betting on surging investor interest in the fintech space, boosted by the COVID-19 pandemic that has led to more businesses being conducted virtually.

Reuters reported on the company's IPO plans in January.

Boston-based Flywire recorded $44.99 million in revenue for the three months ended March 31, up from $32.71 million in the same period a year ago.

It, however, posted net loss of $8.65 million compared with a profit of $3.7 million.

Flywire intends to list on Nasdaq under the symbol "FLYW". Goldman Sachs, JP Morgan, Citigroup and BofA Securities are the underwriters.

(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)

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