Boston fintech firm doubles its U.K. clients with new acquisition

Boston Business Journal – By Greg Ryan

The tuition payments service Flywire, known until recently as peerTransfer, has acquired U.K. rival Uni-Pay, doubling the number of universities in the country serviced by the company.

The terms of the deal were not disclosed.

With the acquisition, Flywire now has more than 120 educational clients based in the U.K., according to the Boston-based company. Uni-Pay had offered tuition processing at 60 institutions in the country.

Flywire’s platform allows international college students to make tuition payments at discounted conversion rates. The acting CEO of Uni-Pay, Paul Kennedy, said in a statement that the deal would give clients access to Flywire’s “best-in-class foreign exchange rates, 24/7 multilingual servicing capabilities and broad choice of payment options.”

Flywire boasted that the transaction made the company “the clear market leader in the U.K.”

In September, the company changed its name from peerTransfer to Flywire in recognition of its global footprint. A month prior, it had moved from Boston’s Financial District to a larger space on Tremont Street facing Boston Common.

Flywire, which was founded in 2009 out of MIT, has approximately 30 employees in Boston. With the Uni-Pay deal, it will have nearly 90 workers worldwide.

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