Boston-based payments and software firm Flywire has purchased Invoiced, a Texan cash flow management Software-as-a-Service (SaaS) platform, to boost its B2B payments services and software capabilities.
Founded in 2013, Invoiced’s SaaS solution helps B2B finance teams automate Accounts Receivable (AR) processes by handling payer communication and invoicing while reconciling payments to their Enterprise Resource Planning (ERP) systems.
It claims to achieve this via integrations with notable accounting systems and ERPs, such as Microsoft Dynamics, Sage Intacct and Oracle NetSuite.
Flywire says it plans to “expand on Invoiced’s successful track record of providing invoicing software to a diversified client base across industries and geographies” as a result of the acquisition, the terms of which have not been disclosed.
Additionally, the buyer predicts that merging its payments network with Invoiced’s AR offering will provide the B2B payments sector with a “combined full-suite software and payments solution that streamlines workflows for finance departments”.
Flywire asserts that its aforementioned proprietary global transaction network supports payments in over 140 currencies across 240 countries and territories worldwide.
Commenting on the deal, Flywire CEO Mike Massaro states: “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,” continues Massaro.
On this, the deal is anticipated to contribute around $2 million in revenue with high “software-like” profit margins to Flywire’s 2024 financial results.
Invoiced adds to Flywire’s expanding portfolio of acquisitions, which includes UK education payments firm WPM and Australian international education paytech Cohort Go.
