After recently expanding its executive suite, one of the city’s largest and fastest-growing financial services technology companies is adding a whole new floor to its Boston headquarters.
Flywire, which in November hired Rob Orgel for the newly-created role of president and chief operating officer, added the 11th floor to its office space at 141 Tremont St., where it was already occupying the 9th and 10th floors. “We were, kind of, bursting out of the space and the footprint that we had,” Flywire CEO Mike Massaro said. Thanks to the new space, which adds just under 6,000 square feet, the office can now accommodate 45 more seats, bringing its total capacity to 126, plus 10 so-called “hotel” seats for employees visiting the Boston office.
In 2020, Massaro is planning to add between 75 and 100 people working in marketing, sales, client services, compliance and finance, and said that the vast majority will be based in Boston, currently home to 104 of over 400 employees. “We stayed in the city center for a reason,” Massaro said. “It’s just a great spot from a community perspective, and [that’s] part of the reason we expanded within the same building versus look for other space all around the city.”
Founded in 2011, Flywire aims to simplify cross-border, or international, payments, particularly in the education, health care and travel industries. Massaro won’t disclose revenue information, but said that that figure is over $100 million. Flywire has raised $143 million to date from investors including Singaporean investment firm Temasek and Bain Capital Ventures. The company has still over $40million in cash, so it’s a good position to not need more funding unless it finds a potential acquisition, Massaro said.
The new space is ready to be used, according to Massaro. The main entrance is staying on the 10th floor, with internal staircases connecting the three floors. “We’re making our way to the roof,” Massaro said.
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