Flywire acquires UK-based PACE Invoice
US payments firm Flywire has acquired PACE Invoice, a multi-currency invoicing platform provider based in London.
International business law firm Addleshaw Goddard advised PACE on this transaction.
With the acquisition, Flywire adds international invoicing to its cross-border payments and receivables services, enabling its business, education and healthcare clients to “more easily link invoices to cross-border receivables, saving time and costs in invoice preparation and payment reconciliation”.
Mike Massaro, CEO of Flywire, says cross-border invoicing is “challenging” and by enabling these capabilities on its platform it can improve its payment solution in the market.
He adds that the “entire” PACE team will join Flywire. PACE Invoice CEO James Shattock will head up its efforts in the UK and Europe for this new business segment.
PACE Invoice is an alumnus of Startupbootcamp FinTech London, an accelerator programme supporting early-stage tech companies.
Flywire says its services are used by over 1,300 organisations across 18 countries. The company processes payments from 220 countries and territories, via bank transfer, credit card and e-wallet solutions, in over 120 different local currencies. It is headquartered in Boston, with offices in London and Manchester (UK), Shanghai, Tokyo, Singapore, Sydney, and Valencia (Spain).
