Flywire expands travel payments business with $330m Sertifi deal
US-based paytech Flywire has acquired hospitality and travel-focused software and payments platform Sertifi in a $330 million deal funded by a combination of cash and debt.
Flywire snaps up Sertifi for $330 million
Founded in 2008, Sertifi digitises hospitality-specific workflows and associated payments through its Software-as-a-Service (SaaS) platform, which integrates with project management systems such as Oracle’s OPERA Cloud and OPERA 5, Amadeus’s Delphi, Infor, and Salesforce.
Described by Mike Massaro, Flywire’s CEO, as a “software solution in the early stages of its payments monetisation journey”, Sertifi’s platform helps 20,000 hospitality locations securely handle contracts and payments.
Flywire, which processes payments in more than 140 currencies for over 4,500 clients across 240 countries, says the acquisition builds on the company’s “existing travel payments business by adding a new product category that has scaled adoption” among hotel brands such as Hilton, Marriott, and Hyatt.
Flywire adds it aims to scale the Sertifi platform globally by leveraging its “go-to-market and partnership expertise” and through future investments in the combined business.
The deal continues Flywire’s recent M&A strategy, following its August purchase of Invoiced, a cash flow management SaaS platform, to expand its B2B payments capabilities. The company has also acquired UK-based education payments firm WPM and Australian international education paytech Cohort Go in recent years.
