Shares of Flywire, a company that helps organizations accept foreign-currency payments, debuted on the Nasdaq on Wednesday at $34 apiece, up from their $24 IPO price. They rose about 4% on their first day of trading, giving the Boston-based fintech a roughly $3.5 billion valuation by day’s end. As a private company, Flywire was last valued at $1 billion after a round of funding in early 2020, according to a PitchBook estimate. After nearly a decade of leading international payments fintech Flywire, Mike Massaro is now the CEO of a public company. Money transfer platform Wise, formerly known as TransferWise, processes £4.5 billion (about $6.4 billion) in cross-border transactions every month.

Source: Forbes May 27, 2021 14:26 UTC