peerTransfer announced the relocation and expansion of its US and European offices in Boston, MA and Valencia, Spain. The decision is driven by the doubling in payment volume and revenue in the last 12 months.
The company also announced it is rebranding as Flywire. The name change positions the company for sustained growth, expansion of its products and services, and creation of lasting relationships with its payment users. Effective today, the Flywire and peerTransfer logos appear on the peerTransfer website. Over time, the company will phase-out the peerTransfer name entirely.
The new Flywire serves over 750 educational institutions in the US, Europe and Asia with students making international payments from over 200 different countries. The company processed $1B in cross-border payments in the 2014-15 academic year, and is on-track to process over $2 billion this year. In July, the company announced its expansion into China, the world’s largest market for students studying abroad. It raised $22M in venture capital in early 2015.
Flywire’s new US headquarters overlooks historic Boston Common utilizing a complete open-architecture construct. The expanded square footage accommodates a doubling in the size of its US employee base and offers sweeping views of the city while providing flexible stand-up and group meeting spaces to facilitate increased communication and collaboration. The space is unique for downtown Boston, and the company expects it will help in its efforts to attract local and national talent in the areas of product, sales and marketing.
The company has also relocated and doubled its Valencia, Spain location, now known as Flywire Europe. Occupying two floors in a landmark building in the heart of Valencia, Flywire Europe includes a state-of-the-art development facility as well as dedicated space for the company’s engineering, customer service, operations, IT and accounting teams.
peerTransfer, now Flywire, is the leading provider of global payment solutions for the education industry, providing processing, tracking and reconciliation services for over 750 educational institutions worldwide. The company offers an easy-to-use, economical payment experience for international students from over 200 countries and territories. Using local bank transfers, online payments, and credit and debit cards denominated in local currencies, students can more easily and confidently pay for their international tuition, room and board at educational institutions around the world.
Flywire’s discounted currency conversion rates can offer significant savings compared to home-market banks and credit card providers and the company offers outstanding customer service and payment monitoring for both students and universities. Brown University, Cornell, MIT, University of Miami, University of Massachusetts-Amherst and University of Western Australia are just some of the schools offering the service to their international students.
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