Flywire's developing approach: CEO Mike Massaro discusses FY 2021 financial results
In a Post-Earnings Call Series, Flywire CEO Mike Massaro discussed the company's success in Q4 and FY 2021, and shared plans for the future.
Flywire, a global payments tech provider, saw a significant increase in revenues last year. The company reported a 53% year-on-year increase in revenues to $201m in 2021. This growth was particularly evident in Q4, where revenues increased by 55% to $33.2m.
The rapid growth of Flywire's international education business and a surge of post-pandemic travel contributed to this Q4 revenue increase. Brand recognition in the education sector is a significant factor in Flywire's growth.
Flywire is now looking to capitalise on new B2B growth opportunities in 2022. The company has identified four central themes for technology investment this year: expanding receivable payment flows, supporting new use cases within existing industries, deepening technical integrations, and improving user experience.
The combined Total Addressable Market (TAM) of healthcare, education, and travel is $1.7tn, providing Flywire with ample room to grow. The company aims to expand receivable payment flows as one of its central themes for technology investment in 2022.
In addition, Flywire is planning to support new use cases within existing industries in 2022. Deepening technical integrations is another theme for Flywire's technology investment this year. Improving user experience is a key focus for the company, as it strives to make its services more accessible and efficient.
As Flywire looks to the future, it is also evaluating the competition in the cross-border payments market. There are no relevant search results that mention which companies have cited Flywire as a competitor in 2022 to expand in the B2B sector. The demand for cryptocurrency is evolving and may impact Flywire's operations.
The author of this article is Daniel Webber. Flywire is considering evolving its go-to-market strategy to better capitalise on the opportunities presented by the B2B sector in 2022.
In conclusion, Flywire had a successful 2021 and is poised for further growth in 2022. The company is focusing on expanding receivable payment flows, supporting new use cases within existing industries, deepening technical integrations, and improving user experience. As it navigates the evolving landscape of cross-border payments, Flywire is also evaluating the competition and considering evolving its go-to-market strategy.
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