Temasek Holdings-backed payments firm Flywire Corp (FLYW.O) was valued at $3.39 billion in its Nasdaq debut on Wednesday, 239% higher from its valuation after a funding round in February last year, according to data from Pitchbook.
The company’s shares opened at $34 each, up from the initial public offering price of $24 apiece.
Flywire, founded in 2011, focuses on enabling payments in the education, healthcare and travel sectors. It is also backed by the venture arm of private-equity firm Bain Capital.
The company adds to the buzz around fintech players, particularly high-growth companies such as Affirm Holdings Inc (AFRM.O) and digital payments giant Stripe, both of which raised funds at sky-high valuations earlier this year.
Source: Reuters
