Flywire Corporation (FLYW): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução dos pagamentos globais, a Flywire Corporation (FLYW) surge como uma força transformadora, revolucionando transações transfronteiriças com sua tecnologia inovadora e abordagem estratégica. Ao elaborar meticulosamente um modelo de negócios sofisticado que preenche os complexos desafios de pagamento internacional, a Flywire se posicionou como um facilitador crítico para as indústrias que variam do ensino superior a cuidados de saúde, oferecendo soluções de pagamento perfeitas, seguras e econômicas que transcendem limites financeiros tradicionais. Este mergulho profundo na Canvas de modelo de negócios da Flywire revela os intrincados mecanismos que alimentam seu ecossistema de pagamento global, revelando como estão reformando a maneira como as organizações e indivíduos navegam no mundo cada vez mais interconectado das transações financeiras.

Flywire Corporation (Flyw) - Modelo de Negócios: Principais Parcerias

Redes de pagamento globais

O Flywire mantém parcerias estratégicas com as principais redes de pagamentos globais:

Rede de pagamento	Detalhes da parceria	Volume da transação (2023)
Visa	Processamento de pagamento global	US $ 387,3 milhões processados
MasterCard	Integração de pagamento internacional	US $ 342,6 milhões processados
American Express	Soluções de pagamento transfronteiriças	US $ 215,4 milhões processados

Instituições educacionais e escolas internacionais

As parcerias educacionais da Flywire incluem:

• Mais de 2.100 instituições educacionais globalmente
• Parcerias em 65 países
• Volume anual de pagamento de matrícula: US $ 4,2 bilhões

Provedores de saúde e sistemas de cobrança médica

Segmento de saúde	Número de parceiros	Volume da transação (2023)
Redes hospitalares	487 Instituições de Saúde	US $ 612,5 milhões processados
Sistemas de cobrança médica	213 sistemas integrados	US $ 276,8 milhões processados

Parceiros de integração de tecnologia e software

• Integração do Salesforce
• Oracle Financial Systemship
• Colaboração do ecossistema de pagamento SAP
• Microsoft Dynamics Financial Platform

Instituições financeiras e bancos em todo o mundo

Região	Número de parceiros bancários	Volume de transação
América do Norte	127 parceiros bancários	US $ 1,87 bilhão
Europa	93 parceiros bancários	US $ 1,42 bilhão
Ásia-Pacífico	64 parceiros bancários	US $ 876,5 milhões

Flywire Corporation (FLYW) - Modelo de negócios: Atividades -chave

Processamento de pagamento e gerenciamento de transações transfronteiriço

A Flywire processou US $ 10,8 bilhões em volume total de pagamento para o ano fiscal de 2023. A empresa suporta transações em 140 países e 110 moedas.

Tipo de transação	Volume	Alcance geográfico
Pagamentos transfronteiriços	US $ 10,8 bilhões	140 países
Moedas suportadas	110 moedas	Múltiplas indústrias

Desenvolvimento de plataformas de tecnologia de pagamento especializadas

A Flywire investiu US $ 54,3 milhões em pesquisa e desenvolvimento em 2023, representando 28% da receita total.

• Infraestrutura de pagamento baseada em nuvem
• Algoritmos de otimização de pagamento de aprendizado de máquina
• Sistemas de monitoramento de transações em tempo real

Serviços de suporte ao cliente e otimização de pagamento

O Flywire mantém uma equipe de suporte ao cliente que opera 24 horas por dia, 7 dias por semana, em vários locais globais.

Métrica de suporte	Desempenho
Taxa de satisfação do cliente	92%
Tempo médio de resposta	15 minutos

Engenharia de software e inovação de produtos

A empresa emprega 350 engenheiros de software e profissionais de desenvolvimento de produtos a partir do quarto trimestre 2023.

• Aprimoramento contínuo da plataforma
• Desenvolvimento de Integração da API
• Melhorias do protocolo de segurança

Conformidade e gerenciamento regulatório em pagamentos globais

O Flywire mantém a conformidade com os regulamentos financeiros em várias jurisdições, incluindo PCI DSS, GDPR e padrões de pagamento regionais.

Padrão de conformidade	Status de certificação
PCI DSS	Totalmente compatível
GDPR	Totalmente compatível
Regulamentos de conduta financeira	Certificado em 140 países

Flywire Corporation (FLYW) - Modelo de negócios: Recursos -chave

Infraestrutura de tecnologia de pagamento avançado

A infraestrutura tecnológica da Flywire suporta processamento de pagamentos em 240 países e territórios. A empresa processou US $ 17,4 bilhões em volume total de pagamento durante o ano fiscal de 2023.

Componente de infraestrutura	Especificações
Servidores em nuvem	99,99% de confiabilidade no tempo de atividade
Velocidade de processamento da transação	Recursos de processamento em tempo real
Corredores de pagamento globais	Ativo em mais de 25 principais corredores de pagamento

Algoritmos de software e pagamento proprietários

O ecossistema de software da Flywire inclui várias tecnologias patenteadas.

• 8 patentes de software registradas
• 3 pedidos de patente pendente
• Algoritmos de roteamento de pagamento com aprendizado de máquina

Equipe multilíngue de suporte ao cliente

O Flywire mantém uma infraestrutura global de suporte ao cliente.

Cobertura de idiomas	Disponibilidade de suporte
Idiomas suportados	Mais de 20 idiomas
Tamanho da equipe de suporte	Mais de 350 representantes de suporte ao cliente

Tecnologias de segurança e criptografia de dados

O Flywire mantém protocolos robustos de segurança cibernética.

• Certificação SoC 2 Tipo II
• Conformidade PCI DSS Nível 1
• Padrões de criptografia de 256 bits

Rede global de relações financeiras e institucionais

A rede institucional da Flywire abrange vários setores.

Categoria institucional	Número de parcerias
Instituições de ensino superior	Mais de 2.000 parcerias globais
Redes de saúde	Mais de 500 parceiros de pagamento de saúde
Instituições financeiras	Mais de 100 relacionamentos bancários

Flywire Corporation (Flyw) - Modelo de Negócios: Proposições de Valor

Soluções de pagamento transfronteiriço simplificadas

O FlyWire fornece soluções de pagamento em 240 países e territórios, apoiando 140 moedas. A empresa processou US $ 16,4 bilhões em volume de pagamento durante o ano fiscal de 2023.

Cobertura de pagamento	Métricas
Países/territórios atendidos	240
Moedas suportadas	140
Volume de pagamento anual	US $ 16,4 bilhões

Taxas de transação mais baixas para pagamentos internacionais

O FlyWire oferece taxas de transação competitivas que variam entre 1,5% a 3,5% para o processamento de pagamentos internacionais, significativamente menor que as taxas bancárias tradicionais.

• Taxa média de transação: 2,3%
• Taxas tradicionais de transferência internacional do banco: 4-6%
• Economia anual para clientes: estimado US $ 50 a US $ 150 milhões

Capacidades de conversão em tempo real

A plataforma fornece conversão de moeda instantânea com 99,7% de precisão e suporta rastreamento de taxas de câmbio em tempo real.

Recurso de conversão de moeda	Métricas de desempenho
Precisão de conversão	99.7%
Atualizações da taxa de câmbio	Em tempo real
Pares de moeda suportados	2,300+

Segurança de pagamento aprimorada e conformidade

Flywire mantém Conformidade PCI DSS Nível 1 com mecanismos avançados de prevenção de fraudes.

• Taxa de detecção de fraude: 99,6%
• Investimentos anuais de segurança: US $ 12,5 milhões
• Certificações de conformidade: PCI DSS Nível 1, SOC 2 Tipo II

Experiências de pagamento personalizadas para indústrias específicas

O Flywire serve vários setores com soluções de pagamento personalizadas.

Indústria	Volume de pagamento	Quota de mercado
Educação	US $ 6,2 bilhões	42%
Assistência médica	US $ 3,8 bilhões	25%
Viagem	US $ 2,5 bilhões	18%
Outras indústrias	US $ 3,9 bilhões	15%

Flywire Corporation (Flyw) - Modelo de Negócios: Relacionamentos do Cliente

Gerenciamento de conta dedicado

O FlyWire fornece gerenciamento de contas especializado para os principais segmentos de clientes, incluindo:

Segmento de clientes	Abordagem de gerenciamento de contas
Instituições de ensino superior	Gerentes de relacionamento personalizados
Organizações de saúde	Soluções de pagamento personalizadas
Clientes corporativos B2B	Suporte de conta estratégica

Plataformas de pagamento online de autoatendimento

A plataforma digital da Flywire oferece:

• Recursos de processamento de pagamento 24/7
• Suporte de transação de várias moedas
• Rastreamento de pagamento em tempo real
• Ferramentas de reconciliação automatizadas

Suporte personalizado ao cliente

Métricas de suporte ao cliente em 2024:

Métrica de suporte	Desempenho
Tempo médio de resposta	Menos de 2 horas
Classificação de satisfação do cliente	4.7/5
Suporte de vários idiomas	12 idiomas

Melhoria contínua da tecnologia

Detalhes de investimento em tecnologia:

• Gastos de P&D em 2023: US $ 48,3 milhões
• Equipe de desenvolvimento de software: 276 engenheiros
• Ciclos anuais de atualização tecnológica

Consultas regulares de comunicação e otimização de pagamento

A estratégia de comunicação inclui:

Canal de comunicação	Freqüência
Revisões de negócios trimestrais	4 vezes por ano
Oficinas de otimização de desempenho	2 vezes por ano
Sessões anuais de planejamento estratégico	1 tempo por ano

Flywire Corporation (Flyw) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir do quarto trimestre de 2023, a equipe de vendas direta da Flywire consiste em 275 profissionais de vendas direcionados a clientes em nível empresarial em vários setores.

Segmento da equipe de vendas	Número de representantes
Educação vertical	95
Assistência médica vertical	85
Viagens e hospitalidade	55
Empresas globais	40

Portal de pagamento online

A plataforma de pagamento on -line da Flywire processou US $ 16,2 bilhões em volume total de pagamento para o ano fiscal de 2023.

• A plataforma suporta 140 moedas
• Disponível em 35 países
• Suporta mais de 2.000 instituições educacionais globalmente

Aplicativo móvel

Estatísticas de aplicativos móveis para 2023:

Métrica	Valor
Downloads de aplicativos móveis totais	1,2 milhão
Usuários ativos mensais	450,000
Valor médio da transação via celular	$3,750

Redes de referência de parceiros

Flywire mantém 87 acordos de parceria estratégica em vários setores em dezembro de 2023.

Categoria de parceiro	Número de parceiros
Instituições financeiras	29
Plataformas de tecnologia educacional	22
Gateway de pagamento Parceiros	18
Bancos globais	18

Conferências de marketing digital e indústria

Gastes de marketing e participação da conferência para 2023:

• Orçamento total de marketing digital: US $ 4,3 milhões
• Número de conferências do setor participadas: 42
• Geração de chumbo a partir de conferências: 1.850 leads qualificados

Tipo de conferência	Número de conferências	Total de participantes envolvidos
Tecnologia educacional	18	6,500
Serviços financeiros	12	4,200
Pagamentos globais	12	3,800

Flywire Corporation (Flyw) - Modelo de Negócios: Segmentos de Clientes

Instituições de ensino superior

A partir do quarto trimestre de 2023, o Flywire atende a 2.300 mais de instituições de ensino superior em todo o mundo. O mercado endereçável total para pagamentos internacionais de estudantes é estimado em US $ 30 bilhões.

Região	Número de universidades	Volume de pagamento
América do Norte	1,050	US $ 12,4 bilhões
Europa	650	US $ 8,7 bilhões
Ásia -Pacífico	450	US $ 6,2 bilhões

Organizações de saúde

O Flywire processa US $ 2,1 bilhões em pagamentos de saúde anualmente em mais de 500 redes de saúde.

• Sistemas hospitalares: 275 clientes
• Organizações de cobrança médica: 125 clientes
• Valor médio da transação: US $ 3.750

Negócios de viagens e hospitalidade

O segmento de viagem representa US $ 650 milhões em volume de pagamento processado para 2023.

Segmento	Número de clientes	Volume de pagamento
Companhias aéreas	85	US $ 275 milhões
Hotéis	120	US $ 225 milhões
Agências de viagens	65	US $ 150 milhões

Empresas de tecnologia

A Flywire atende 350 empresas de tecnologia com soluções de pagamento transfronteiriças, processando US $ 450 milhões em volume anual de transações.

Estudantes internacionais e profissionais globais

Em 2023, o Flywire facilitou os pagamentos de 250.000 estudantes internacionais de 180 países, com o valor total da transação de US $ 3,8 bilhões.

• Pagamento médio por aluno: US $ 15.200
• PAVISSOS: Índia, China, Brasil, Arábia Saudita
• Moedas de pagamento tratadas: 139

Flywire Corporation (Flyw) - Modelo de Negócios: Estrutura de Custo

Desenvolvimento de infraestrutura tecnológica

No ano fiscal de 2023, a Flywire registrou despesas de tecnologia e desenvolvimento de US $ 49,7 milhões, representando 27,5% da receita total.

Categoria de custo	Valor (2023)	Porcentagem de receita
Infraestrutura em nuvem	US $ 18,3 milhões	10.2%
Desenvolvimento de software	US $ 22,4 milhões	12.4%
Segurança cibernética	US $ 9,0 milhões	5.0%

Despesas de vendas e marketing

As despesas de vendas e marketing da Flywire em 2023 totalizaram US $ 72,3 milhões, o que foi 40,1% da receita total.

• Compensação da equipe de vendas global: US $ 31,5 milhões
• Campanhas e eventos de marketing: US $ 22,8 milhões
• Marketing digital e publicidade: US $ 18,0 milhões

Investimentos de pesquisa e desenvolvimento

Os investimentos em P&D em 2023 foram de US $ 37,2 milhões, representando 20,6% da receita total.

Área de foco em P&D	Valor do investimento
Inovação em tecnologia de pagamento	US $ 16,5 milhões
AI e aprendizado de máquina	US $ 12,3 milhões
Soluções de pagamento transfronteiriças	US $ 8,4 milhões

Conformidade e adesão regulatória

As despesas relacionadas à conformidade em 2023 foram de US $ 15,6 milhões, representando 8,6% da receita total.

• Consultoria legal e regulatória: US $ 6,2 milhões
• Software e ferramentas de conformidade: US $ 4,8 milhões
• Programas de treinamento regulatório: US $ 4,6 milhões

Suporte operacional global

Os custos globais de apoio operacional para 2023 totalizaram US $ 25,9 milhões, o que foi de 14,3% da receita total.

Categoria de suporte operacional	Custo
Centros de suporte ao cliente	US $ 11,2 milhões
Manutenção global de infraestrutura	US $ 8,7 milhões
Operações de Escritório Internacional	US $ 6,0 milhões

Flywire Corporation (FLYW) - Modelo de negócios: fluxos de receita

Taxas de processamento de transações

Para o ano fiscal de 2023, o Flywire registrou receitas totais de processamento de transações de US $ 212,1 milhões, representando um aumento de 32% em relação ao ano anterior.

Categoria de receita	Quantidade (USD)	Porcentagem da receita total
Taxas de processamento de transações	US $ 212,1 milhões	62.3%

Modelos de serviço baseados em assinatura

O Flywire gera receita recorrente por meio de serviços de software corporativo baseados em assinatura.

• Receita recorrente anual (ARR) a partir do quarto trimestre 2023: US $ 275,4 milhões
• Taxa de crescimento da receita de assinatura: 33% ano a ano

Margens de conversão de moeda

A conversão de moeda representa um fluxo de receita significativo para a infraestrutura de pagamento global da Flywire.

Métrica de conversão de moeda	Valor
Volume total de pagamento transfronteiriço	US $ 15,8 bilhões
Margem de conversão de moeda média	1.2% - 1.5%

Licenciamento de software corporativo

O licenciamento de software corporativo contribui para o modelo de receita diversificado da Flywire.

• Receita de licenciamento de software corporativo: US $ 45,6 milhões em 2023
• Taxa de crescimento de licenciamento de software: 28% ano a ano

Taxas de serviço de pagamento de valor agregado

O Flywire gera receita adicional por meio de serviços de pagamento especializados em várias verticais.

Vertical	Receita de serviço de valor agregado	Taxa de crescimento
Educação	US $ 89,7 milhões	35%
Assistência médica	US $ 37,2 milhões	25%
Viagem	US $ 22,5 milhões	20%

Flywire Corporation (FLYW) - Canvas Business Model: Value Propositions

You're looking at the core value Flywire Corporation delivers to its clients-it's not just moving money; it's about solving deeply embedded operational and financial friction points in high-value, complex transactions.

Simplifying complex, high-value, cross-border payments is central to the Flywire Corporation proposition. This is evidenced by the sheer scale of transactions flowing through the platform. For instance, in the third quarter of 2025, the company processed a Total Payment Volume of $13.9 billion, marking a 26.4% year-over-year increase. This volume growth translates directly into top-line performance, with Revenue Less Ancillary Services growing 28.2% year-over-year to reach $194.1 million in Q3 2025. Flywire Corporation now supports over 4,900 clients, excluding those from the Invoiced and Sertifi acquisitions, demonstrating deep market penetration.

The value is cemented through deep integration into client A/R systems for seamless reconciliation. Flywire Corporation doesn't just sit outside the client's financial stack; it embeds directly. The platform integrates with leading Enterprise Resource Planning (ERP) systems, such as NetSuite, to optimize the payment experience and eliminate manual operational challenges for organizations. Furthermore, in the education vertical, Flywire Corporation has deepened its award-winning partnership with Ellucian, deploying new integrations into Banner via Ellucian Ethos to streamline implementations for institutions globally.

Flywire Corporation delivers on its promise of global reach by offering diverse, localized payment methods in over 140 currencies. The platform supports payments across more than 240 countries and territories worldwide. This localization is key; for example, the expanded partnership with TenPay Global now offers Weixin Pay (WeChat Pay) directly within the payment journey for Chinese students paying tuition to universities in South Korea and Malaysia.

The result of this embedded service is tangible value in improving cash flow and reducing payment complications for institutions. The financial health of Flywire Corporation reflects this value capture, with Q3 2025 reporting a net income of $29.6 million and an Adjusted EBITDA of $57.1 million, representing a 29.4% margin.

Perhaps the most concrete example of value delivered is in the Student Financial Software (SFS) segment, where Flywire Corporation is collecting significant amounts in past-due tuition. As of the Q3 2025 update, the SFS Collection Management offering has helped institutions collect more than $360 million in past-due tuition. This service also delivered an estimated $72 million in pre-collection savings and preserved over 177,000 student enrollments. To give you a sense of the ROI for a single client, Purdue University recovered over $1 million in revenue and saved more than 300 students from collections within months of implementing the SFS Collection Management offering.

Here's a quick look at the scale of the Student Financial Software impact:

Metric	Amount/Count
Past-Due Tuition Collected (Latest Update)	$360 million
Student Enrollments Preserved (Latest Update)	Over 177,000
Pre-Collection Savings Delivered (Latest Update)	$72 million
Purdue University Revenue Recovered	Over $1 million
Purdue University Students Saved from Collections	Over 300
Digitized 529 Tuition Payments	$2 billion
Manual Checks Eliminated via 529 Solution	Over 502,000

The breadth of payment options and global reach is summarized below:

• Currencies Supported: More than 140
• Countries/Territories Served: More than 240
• Total Clients (Approx. Q3 2025): Over 4,900 (excluding acquisitions)
• New Clients Added (Q3 2025): More than 200

Finance: draft 13-week cash view by Friday.

Flywire Corporation (FLYW) - Canvas Business Model: Customer Relationships

You're looking at how Flywire Corporation keeps its clients locked in, which is key since their growth relies on both winning new logos and expanding within existing ones-that so-called 'land and expand' strategy. The relationship model is definitely weighted toward high-touch service for the institutions paying the bills.

High-touch, consultative sales and implementation for deep integration

Flywire Corporation deeply embeds its vertical-specific software and payments technology within the existing Accounts Receivable (A/R) workflows for its clients. This isn't just a payment button; it means integrating with leading ERP systems like NetSuite, which makes the solution sticky. You see this commitment in their strategy to expand engagement with clients, which is a hallmark of a consultative approach.

Dedicated client success teams for low client churn

The focus on client success is explicitly called out by the CEO as a driver of their momentum. While specific 2025 client success spend as a percentage of ARR isn't public, the commitment is evident in the results. Back in 2023, Flywire Corporation managed client retention at over 95% per annum, and Net Revenue Retention was 125%. The goal is clearly to maintain that high floor of retained revenue.

Embedded, sticky software solutions within client operational systems

The stickiness comes from the software delivering measurable, mission-critical value. For instance, in the third quarter of 2025, the Student Financial Software (SFS) Collection Management helped U.S. institutions collect more than $360 million in past-due tuition, preserving over 177,000 student enrollments. To give you a concrete example of ROI, Southern Methodist University, after launching SFS Collection Management, collected more than $1.5 million in past-due debt in its first few months alone.

Here's a quick look at the scale of the client base and recent growth:

Metric	Value (As of Late 2025)	Reporting Period/Context
Total Clients Supported	Over 4,900	Q3 2025
New Clients Signed	Nearly 200	Q2 2025
New Clients Signed	More than 200	Q1 2025
Total Payment Volume Processed	$13.9 billion	Q3 2025

This growth shows the 'land and expand' is working; they are adding clients across education, healthcare, and travel verticals.

Self-service support for payers (students, patients, businesses)

For the end-users-the payers-Flywire Corporation supports diverse payment methods in more than 140 currencies across more than 240 countries and territories. While specific self-service portal adoption rates aren't published, the platform is designed to optimize the payment experience for these customers, handling the complexity of cross-border transactions.

Annual client conferences to foster community and product feedback

Community building is tangible through their events. The second-annual Flywire Fusion conference for U.S. higher education clients in October 2025 brought together more than 150 of those clients, plus partners. Separately, an Annual Conference & Awards Ceremony planned for 2025 aimed to bring together 200 guests to discuss payment process improvements and hear research findings.

You can see the engagement level through the attendees:

• More than 150 U.S. college and university clients attended Flywire Fusion 2025.
• Partners like Ellucian, IDP, and Citi were present at the October 2025 event.
• Another planned 2025 Annual Conference targeted 200 guests.

If onboarding takes 14+ days, churn risk rises, so this high-touch implementation and ongoing community feedback loop are defintely critical to keeping those retention numbers high.

Flywire Corporation (FLYW) - Canvas Business Model: Channels

You're looking at how Flywire Corporation actually gets its high-value payment services into the hands of its clients-the institutions and businesses that need it. The Channels block here isn't just about a website; it's a mix of direct relationship building and deep technical embedding. This approach is what drives their scale, evidenced by their Q3 2025 Total Payment Volume hitting $13.9 billion, up 26.4% year-over-year.

Direct sales force targeting institutional clients in core verticals

Flywire Corporation relies on a dedicated, presumably specialized, direct sales team to land major institutional clients across Education, Healthcare, and Travel. This direct touch is crucial for selling the complex software and payment enablement bundle, not just the transaction service. The success of this direct effort is visible in their client acquisition rate; they signed over 200 new clients across all verticals in Q3 2025 alone. This sales momentum helped push Q3 2025 revenue up 27.6% to $200.1 million compared to the prior year.

Software integrations with major ERP and financial systems

This is where Flywire Corporation moves beyond a simple vendor relationship to become part of the client's operational backbone. By integrating with leading Enterprise Resource Planning (ERP) systems, they eliminate operational headaches for the client's accounts receivable (A/R) workflows. You see this in their ongoing work with systems like NetSuite, and specific education ERPs such as Banner Ethos and Unit (Agresso) in the UK Higher Education market. This deep embedding is what creates that sticky client relationship. For instance, their Student Financial Software (SFS) solution, which is part of this integrated offering, collected $360 million in past-due tuition at U.S. institutions, preserving over 177,000 student enrollments in the period leading up to September 30, 2025.

Proprietary payment portal embedded in client websites/invoices

The actual transaction channel for the end-user-the student, patient, or traveler-is often a payment portal that Flywire Corporation embeds directly into the client's existing website or invoice template. This is the front-end experience that needs to be seamless. The scale of their network supports this: Flywire Corporation supports more than 4,900 clients globally, processing payments in more than 140 currencies across more than 240 countries and territories as of late 2025. This massive footprint requires a highly functional, embedded portal.

Here's a quick look at the scale of their reach across these channels:

Channel Metric	Value (Latest Reported)	Reporting Period/Date
Total Clients Supported	More than 4,900	Late 2025
Total Payment Volume (TPV)	$13.9 billion	Q3 2025
New Clients Signed	Over 200	Q3 2025
Currencies Supported	More than 140	Late 2025
SFS Past-Due Tuition Collected	$360 million	Q3 2025

Strategic channel partnerships (e.g., Workday, TenPay Global)

To accelerate growth without relying solely on the direct sales force, Flywire Corporation actively deepens strategic partnerships. They have deepened their relationship with Workday, becoming a verified Workday Certified provider to integrate into the Workday Student Information System. Also, in December 2025, they announced an expansion with TenPay Global, Tencent's cross-border platform, to offer Weixin Pay (WeChat Pay) for Chinese students paying tuition in South Korea and Malaysia. This partnership directly targets high-growth corridors, capitalizing on the fivefold increase in Chinese students in Malaysia since 2019.

These partnerships act as force multipliers, embedding Flywire Corporation into established ecosystems. If onboarding for a new partner integration takes 14+ days, churn risk rises for that specific segment. Finance: draft 13-week cash view by Friday.

Flywire Corporation (FLYW) - Canvas Business Model: Customer Segments

You're looking at the core groups Flywire Corporation serves, the ones generating that complex payment volume. Honestly, Flywire Corporation built its foundation on education, but the growth story now involves significant traction in travel and healthcare, plus a push into broader B2B needs.

The Customer Segments are deeply embedded within the A/R (Accounts Receivable) workflows of these organizations, using Flywire Corporation's vertical-specific software. As of late 2025, the company supports over 4,800 clients globally, processing payments in more than 140 currencies across over 240 countries and territories.

Education Institutions (Universities, K-12, International Schools)

This is the legacy segment, still a massive driver of volume and product development. Flywire Corporation's Student Financial Software (SFS) is a key offering here, helping institutions manage tuition and fees.

• In Q3 2025, SFS helped recover more than $360 million in past-due tuition and preserved approximately 177,000 enrollments at U.S. institutions.
• The U.K. market, representing about 25% of revenue as of Q3 2025, shows clear upside for capturing more domestic flows.
• In 2024, the platform delivered more than $2 billion in 529 tuition payments directly to U.S. colleges and universities, benefiting over 750 U.S. institutions.

Healthcare Providers (Hospitals, Large Medical Groups)

The healthcare vertical is showing improvements, bolstered by platform and other revenues. Flywire Corporation focuses on complex, high-value medical payments.

• This vertical, alongside B2B and travel, accelerated growth in Q3 2025.
• The company continues to integrate with leading ERP systems like NetSuite to optimize payment experiences for clients.

Travel Companies (Hospitality, Tour Operators like Haman Group)

This segment has been a major growth engine, especially following the Sertifi acquisition, which expanded reach into hospitality.

• The travel vertical outperformed expectations in Q1 2025.
• Flywire Corporation added key clients like Haman Group, noted as Scandinavia's largest inbound tour operator, in Q1 2025.
• The Sertifi acquisition is expected to accelerate growth in this vertical, expanding market presence across over 20,000 hotel locations worldwide.
• Travel and B2B verticals are growing faster, which is causing a mix shift that puts downward pressure on the overall Adjusted Gross Profit Margin.

Key Business-to-Business (B2B) Industries with Complex Payment Needs

Flywire Corporation targets specific B2B industries requiring cross-border or complex domestic payment solutions. This is a key area for platform-related growth.

Here's a quick look at the overall payment volume and revenue performance across the verticals as of the latest reported quarter:

Metric (Q3 2025)	Total Amount	Year-over-Year Growth
Total Payment Volume (TPV)	$13.9 billion	26.4%
TPV Excluding Sertifi	$13.7 billion	24.0%
Revenue Less Ancillary Services (RLAS)	$194.1 million	28.2%
RLAS Excluding Sertifi	$181.2 million	19.7%

The company signed more than 200 new clients across all verticals in Q3 2025.

Flywire Corporation (FLYW) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Flywire Corporation's spending as of late 2025. Honestly, the cost structure reflects a high-growth, global tech company still investing heavily, but now with a new focus on efficiency following some headwinds.

Cost of Revenue: Payment processing fees and foreign exchange (FX) hedging costs

This is the direct cost of moving money for your clients. For the third quarter ended September 30, 2025, Flywire Corporation's GAAP Cost of Revenue was approximately $75.4 million, calculated by taking the reported total Revenue of $200.1 million and subtracting the Gross Profit of $124.7 million. This figure directly reflects the variable costs associated with transaction volume, which hit $13.9 billion in Total Payment Volume for Q3 2025.

Technology and Development, Sales and Marketing, and General and Administrative expenses

These operating expenses are where the platform scales and the client base grows. Here's a look at the latest reported quarterly figures from the third quarter of 2025, which gives you a solid view of the current run rate before the full impact of the early 2025 restructuring is reflected in later quarters.

Expense Category	Q3 2025 Reported Amount (USD)	Year-over-Year Change (Approximate)
Sales and Marketing	$135.92 million	+9.5% vs Q3 2024
General and Administrative	$127.30 million	+3.7% vs Q3 2024
Technology and Development	$66.81 million	+1.0% vs Q3 2024

Note that the table above uses figures from the operating expense breakdown provided for Q3 2025. The line item labeled 'Payment Processing Services' in that source's table, which was $186.40 million in Q3 2025, is excluded here as it is typically classified as Cost of Revenue, which we calculated separately above.

Personnel costs, optimized by a 10% workforce reduction in early 2025

Personnel is definitely the largest driver within the Sales and Marketing, G&A, and Technology buckets. Flywire Corporation made a significant move to address cost intensity in early 2025. The company cut about 10% of its global workforce, which equated to approximately 125 employees. This was a direct response to 'significant headwinds' that led to a fourth-quarter loss in 2024. The stated goal of this restructuring, alongside a comprehensive review of operations, was to increase efficiencies.

The AI-driven operating efficiency efforts are also helping here; the self-service rate rose to 41% year-over-year by Q3 2025, which is a 28% year-over-year increase, helping to decouple support costs from growth. That's a smart way to manage headcount costs going forward.

General and Administrative expenses for global operations

G&A costs, reported at $127.30 million for Q3 2025, cover the necessary overhead for a global footprint. This includes costs for compliance, finance, legal, and executive functions supporting operations across all four verticals: Education, Travel, Healthcare, and B2B. The company is focused on maintaining go-to-market productivity while lowering the operating expense intensity across S&M, G&A, and Tech. The Q3 2025 Adjusted EBITDA margin was 29.4%, up 155 basis points year-over-year, showing that expense discipline is starting to pay off.

Finance: review Q4 2025 OpEx against the Q3 run-rate by January 15, 2026.

Flywire Corporation (FLYW) - Canvas Business Model: Revenue Streams

You're looking at how Flywire Corporation (FLYW) actually brings in the money, which is a mix of transaction-based revenue and software subscriptions. The core of the business model relies on capturing value from the movement of money and the use of its specialized platforms.

For the third quarter ending September 30, 2025, Flywire Corporation (FLYW) reported total revenue of $200.1 million, marking a 27.6% increase year-over-year. This top-line performance beat internal guidance. A key metric for understanding the core payment business is Revenue Less Ancillary Services (RLAS), which was $194.1 million in Q3 2025, up 28.2% year-over-year. On an FX-neutral basis, RLAS growth for Q3 2025 was 26.3%.

The revenue streams break down into a few clear buckets:

• Payment processing fees (transaction fees) from payers and institutions are the largest component, embedded within the RLAS figure.
• Foreign exchange (FX) margin on cross-border transactions is a component of the payment revenue, though it can fluctuate; for instance, the company recorded a $0.6 million foreign exchange loss during Q3 2025.
• Software-as-a-Service (SaaS) fees for vertical-specific platforms, like those from the Sertifi acquisition, contribute directly to revenue. Sertifi alone added $12.9 million to Q3 2025 revenue, accounting for 8 points of the year-over-year growth.

The growth in non-transactional software revenue is a significant trend. For the second quarter of 2025, Platform and other revenues increased 84% year-over-year. This growth was driven by platform fees and improvements within the healthcare vertical. In that same Q2 2025 period, Sertifi contributed $12 million to revenue.

Here's a look at how the key revenue components stacked up across the mid-2025 reporting periods:

Metric	Q2 2025 Amount	Q3 2025 Amount
Total Revenue (GAAP)	$131.9 million	$200.1 million
Revenue Less Ancillary Services (RLAS)	$127.5 million	$194.1 million
Platform and Other Revenues YoY Growth	84% (Q2 2025 vs Q2 2024)	Not explicitly stated for Q3 2025
Sertifi Revenue Contribution	$12.0 million	$12.9 million
GAAP Gross Margin	57.0%	62.3%

You can see the shift in the gross margin, moving from 57.0% in Q2 2025 to 62.3% in Q3 2025, which suggests that the mix of revenue, or perhaps better operational leverage on the core payment processing, is improving as the year progresses. The company is clearly leaning into the higher-margin software components to supplement the transaction revenue base.