Temasek-backed payments processor Flywire files paperwork to go public

[BENGALURU] Payments processor Flywire Corp said on Thursday it had submitted a draft registration statement with the US Securities and Exchange Commission for the proposed initial public offering (IPO) of its common stock.

In January, Reuters reported that Flywire was working with investment banks, Goldman Sachs Group and JPMorgan Chase & Co, for a US IPO later this year that could value the firm at around US$3 billion. Flywire said on Thursday it had not yet determined the number of shares to be offered and the price range for the proposed offering.

The Boston-based company, backed by Singaporean state investor Temasek Holdings and the venture arm of private equity firm Bain Capital, is focused on facilitating payments in the education, healthcare and travel sectors.

REUTERS