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Flywire Acquires Toronto's ScholarFX

Techvibes – by NewsDesk

Formerly peerTransfer, the Boston-based cross-border payment solutions company bought the Canadian company for an undisclosed sum.

Flywire acquired UK-based Uni-Pay in October.

“The acquisition of ScholarFX expands our ability to attract and service Canadian educational institutions while adding to the scale of our industry-leading cross-border payment platform,” said Mike Massaro, CEO of Flywire. “ScholarFX has a great understanding of the Canadian market and their personalized, customer-centric approach to service is perfectly aligned with ours. We’re also excited to add Darren Chadwick to our team, and to bring all the advantages of our solution to this fast-growing market.”

For international students attending schools in Canada, Flywire offers best-in-class currency conversion rates, 24/7 payment tracking, multi-lingual customer service, and the ability to pay in 70 different local currencies. Education institutions benefit from Flywire’s payment reconciliation tools, global account servicing, and digital tracking.

Flywire is on-track to process $2 billion in tuition, room and board payments in the academic year ending spring 2016, double the previous year’s volume.

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