Tuition payments service ​peerTransfer adds $22M in funding, focuses on global expansion

Boston Business Journal – By David Harris

Boston-based tuition payments service peerTransfer said it closed $22 million in new funding this week as it focuses on international expansion.

Bain Capital Ventures led the Series C round, with participation from prior investors including Spark Capital, Fidelity-affiliated Devonshire Investors, Accel Partners, and QED Investors. The new funding will be used to accelerate international growth, expand coverage and penetration at U.S. colleges and universities, and advance the company’s innovative cross-border payment platform, the company said in a release.

The spokeswoman for the company, with its headquarters in Boston and offices near Madrid and in London, said peerTransfer would add between 15 to 20 employees over the next year to its existing headcount of 48.

Founded in 2009, peerTransfer has now raised $43 million to date.

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