Flywire, a provider of global payment and receivables solutions for education, healthcare, and business, officially announced the opening of its new expanded Asia-Pacific regional headquarters in Singapore. The move addresses a growing demand in the region for solutions that can facilitate the frictionless transfer of money across borders while offering value, transparency and a simple online experience for both payers and receivers.
“APAC will continue to be a growth area for Flywire, and with the opening of our new regional headquarters in Singapore, we are well positioned to continue to provide a seamless service for the region’s vibrant business, healthcare and education sectors,” said Mike Massaro, CEO of Flywire. “We will also look to grow other locations in Asia as our business expands in existing markets like Japan and Australia, as we are committed to invest to support our clients, payers, partners and colleagues around the world.”
With global headquarters in Boston, Massachusetts in the USA, the seven-year-old company provides a hassle-free and cost-effective experience for clients. Today, Flywire is the preferred way for international students to pay their tuition at over 1,400 educational institutions in six continents. Flywire ensures secure transactions through rigorous security programs, while also partnering with the world’s leading banks to ensure all transactions flow through secure payment rails. Flywire has processed over $7.4 billion in transaction volume for its client institutions since inception, with a growing amount coming in its international healthcare and business segments.
In the past year, Flywire has tripled its APAC team in order to meet growing demand in the region. The current APAC headquarters can accommodate 40 employees, across a range of functions. The company supports over 175 clients in the region representing both the education and healthcare sectors, including LASALLE College of the Arts, KPJ Healthcare and Kaplan Singapore. Asia-Pacific also represents Flywire’s largest market for payers so having a hub in Singapore allows Flywire to better meet the demands of its three largest markets for international transactions—China, India and South Korea.
“Our operations in Singapore will be critical as Flywire looks to serve the needs of other industries in APAC. We have seen a significant ramp-up in the number of APAC-based clients over the past 18 to 24 months in the education and healthcare sectors,” says Andrew Ong, Managing Director of Flywire in Asia-Pacific. “We have over 20 clients in Singapore and Malaysia, 100 in Japan, and an increasingly strong base in Australia. This shows how much a service like this is essential to our part of the world, and we will continue putting in the necessary resources to support this vibrant region.”