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    Home»Deals»Temasek-backed Flywire valued at $3.4 bln in U.S. market debut
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    Temasek-backed Flywire valued at $3.4 bln in U.S. market debut

    May 26, 20211 Min Read
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    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.

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    Source: Reuters

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