Necessitated by the company’s doubling in payment volume and revenue since September, 2014, the new locations will focus on innovation and make room for developments in engineering, sales, marketing and operations capacity.
The company also announced it is rebranding as Flywire. The name change positions the company for sustained growth, expansion of its products and services, and creation of lasting relationships with its payment users. The Flywire and peerTransfer logos have already appeared on the peerTransfer website. Over time, the company will phase-out the peerTransfer name entirely.
The new Flywire serves over 750 educational institutions in the US, Europe and Asia with students making international payments from over 200 different countries. The company processed USD 1 billion in cross-border payments in the 2014-2015 academic year, and is on-track to process over USD 2 billion in 2015. In July, 2015 the company announced its expansion into China, the world’s largest market for students studying abroad. It raised USD 22 million in venture capital in early 2015.
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