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Flywire Corporation acquires Invoiced

Wednesday 7 August 2024 14:36 CET | News

Flywire Corporation has acquired Invoiced, a SaaS platform designed to automate the order-to-cash process for B2B finance teams and CFO offices.

 

This acquisition aims to improve Flywire's B2B payments operations by integrating Invoiced’s invoicing software into its existing suite of services. Flywire anticipates that this move will strengthen its offerings to its global clients, targeting a B2B segment that accounts for roughly USD 10 trillion in global payment volume.

Invoiced’s platform facilitates the automation of accounts receivable (A/R) processes by managing invoices, communicating with payers, and reconciling payments with ERP systems. It integrates with various accounting and ERP systems such as Oracle’s NetSuite, Sage Intacct, and Microsoft Business Dynamics.

The integration of Invoiced’s software with Flywire’s payment network, which supports multiple payment methods across over 240 countries and territories, is expected to offer a comprehensive solution for B2B payments.

 

Flywire Corporation has acquired Invoiced, a SaaS platform designed to automate the order-to-cash process for B2B finance teams and CFO offices.

 

A word from company representatives

In the official press release, representatives from Flywire stated that the acquisition aligns with Flywire’s strategy to support its value proposition and improve financial performance. They emphasised that Invoiced’s software complements Flywire’s B2B payment services and will accelerate the company’s product development efforts.

According to industry research, the global market for A/R automation is growing, with projections indicating an increase from USD 3.3 billion in 2022 to USD 6.5 billion by 2027, showing a compound annual growth rate of 14.2%. This growth is driven by businesses seeking to improve financial operations and cash flow management through investments in A/R solutions, which include software and cloud services.

The acquisition of Invoiced is part of Flywire’s strategy to support its organic growth and expand its business lines. Flywire expects Invoiced to contribute approximately USD 2 million in revenue for FY 2024, with plans to reinvest the majority of the margin dollars to support the expansion of the combined business.


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Keywords: acquisition, financial services, e-invoicing, expansion
Categories: Banking & Fintech
Companies: Flywire, Invoiced
Countries: United States
This article is part of category

Banking & Fintech

Flywire

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Invoiced

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