6. Flywire Corporation (NASDAQ:FLYW)
Year-to-Date Performance: -43.28%
Average Price Target Upside Potential According to Analysts: 44.74%
Number of Hedge Fund Holders: 34
Flywire Corporation (NASDAQ:FLYW) is a US-based global payments enablement and software company that offers an advanced payments platform, proprietary payment network, and vertical-specific software to power global payment flows across multiple currencies, payment types, and payment options. The company supports its clients from various industries and their customers with diverse payment methods in over 140 currencies across 240 countries and territories around the world. Flywire Corporation (NASDAQ:FLYW) ranks among the worst-performing stocks to buy in the fintech space.
A key strategic focus for Flywire Corporation (NASDAQ:FLYW) is combining software with payment solutions to serve the business-to-business (B2B) vertical better. In August 2024, the company acquired Invoiced, a SaaS platform specializing in automating the order-to-cash process for B2B finance teams. This transaction builds on Flywire Corporation’s (NASDAQ:FLYW) B2B payments business and enhances the software suite the company provides to its global clients and target segments. Flywire Corporation (NASDAQ:FLYW) estimates that the B2B target segment is responsible for approximately $10 trillion in global payment volume.
In 2024, the company focused on optimizing its global payment network and expanding its network coverage. Flywire Corporation (NASDAQ:FLYW) strengthened its presence in strategic markets like India and China by digitizing student loan disbursements and partnering with India’s 3 largest banks. The company signed more 800 new clients in fiscal year 2024, surpassing the 700 added in 2023. For 2024, Flywire Corporation (NASDAQ:FLYW) reported a 23.6% year-over-year growth in transaction volume to $29.7 billion.
