Flywire, a payments platform with a global footprint, announced on Monday that it has officially filed for an initial public offering (IPO) to list its stocks on the United States stock exchange.
The company has filed a registration form on S-1 with the U.S. Securities and Exchange Commission (SEC) for the public listing. The latest move came after Flywire filed a draft registration with the regulator in March.
Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!
Though crucial details like numbers of shares to be offered and the price range are yet to be determined, the earlier draft filing revealed that the company might seek a valuation of around $3 billion.
Monday’s filing revealed that the payments giant wants to list its shares on Nasdaq under the ticker ‘FLYW’. In addition, it has appointed Goldman Sachs, J.P. Morgan, Citigroup and BofA Securities as the lead book-running managers for the proposed public offering.
Is Oil a Solid Play for this Summer?Go to article >>
Revenue Is Growing Strongly
The S-1 Form has been submitted after Flywire witnessed a revenue surge of around 28 percent. However, it recorded a net loss of $11.1 million in revenue of $131.8 million in 2020, while the losses were at $20.1 million in revenue of $94.9 million in 2019.
Headquartered in Boston, Flywire was founded in 2011 and one of the heavily funded payment startups. It has raised more than $323 million from 32 investors to date, according to Crunchbase. The…