Flywire, a Boston-based payments and software firm, has acquired Invoiced, a Texas-based cash flow management Software-as-a-Service (SaaS) platform. The acquisition aims to enhance Flywire’s B2B payments services and software capabilities. Founded in 2013, Invoiced’s SaaS solution helps B2B finance teams automate Accounts Receivable (AR) processes.
It handles payer communication, invoicing, and reconciles payments to Enterprise Resource Planning (ERP) systems through integrations with notable accounting systems and ERPs like Microsoft Dynamics, Sage Intacct, and Oracle. Flywire plans to expand on Invoiced’s successful track record of providing invoicing software to a diverse client base across industries and geographies. The terms of the deal have not been disclosed.
flywire enhances B2B payment services
The company expects that combining its payments network with Invoiced’s AR offering will provide the B2B payments sector with a full-suite software and payments solution that streamlines workflows for finance departments. Flywire’s proprietary global transaction network supports payments in over 140 currencies across 240 countries and territories worldwide.
CEO Mike Massaro stated, “Invoiced will help us significantly accelerate our product roadmap, and its Accounts Receivable product focus has strong alignment with Flywire’s global payment acceptance capabilities. We seek M&A opportunities that will help us enhance our value proposition and strengthen our financial performance.”
The deal is expected to contribute around $2 million in revenue with high “software-like” profit margins to Flywire’s 2024 financial results. Invoiced adds to Flywire’s growing portfolio of acquisitions, which includes a UK education payments firm and an Australian international education paytech.
This acquisition marks a significant step for Flywire in its mission to streamline and enhance B2B payments and software services globally. It reinforces Flywire’s commitment to powering software and payments in its target B2B segment, which it estimates to be responsible for approximately $10 trillion in global payment volume.
