Flywire acquires Simplee, announces $120M Series E round

Boston-based payments company Flywire has announced that it has acquired Simplee , a healthcare technology platform, to optimize the digital payments and patient engagement experience in healthcare and scale its global payments services. The acquisition builds on Flywire’s growing healthcare payments business and accelerates the company’s market share.

Flywire’s acquisition of Simplee accelerates the digitization of payments to address the challenges around patient engagement as well as healthcare finance and affordability. Combining Flywire’s high-tech platform for providers with Simplee’s consumer-first paths to payment, both patients and providers are empowered to settle payment faster and on their own terms. Together, the companies will power four of the top ten US healthcare systems and process more than $10 billion in patient payments per year.

“Flywire is uniquely built on a global payments network, which is the cornerstone of how we move billions of dollars across 200+ countries and 150 currencies, and an industry-leading payments platform. This digital foundation enables us to develop vertical-specific applications that make payments more efficient and cost-effective for our global clients. The Simplee acquisition improves patient engagement and healthcare affordability and extends these capabilities to a broader customer base.” – Mike Massaro, CEO of Flywire.

Flywire is also announcing a $120 million Series E investment round led by Goldman Sachs, which will support Flywire’s ongoing investment in its multi-vertical strategy. This latest round brings the company’s total capital investment to $260 million. Tiger Management and Adage Capital Management also joined the round as new investors with participation from existing investors.