Flywire (formerly peerTransfer), a provider of cross-border payment solutions, acquired Toronto-based ScholarFX, a processor of tuition, room and board payments for international students attending universities and other educational institutions in Canada.
“The acquisition of ScholarFX expands our ability to attract and service Canadian educational institutions while adding to the scale of our industry-leading cross-border payment platform,” said Mike Massaro, CEO of Flywire. “ScholarFX has a great understanding of the Canadian market and their personalized, customer-centric approach to service is perfectly aligned with ours. We’re also excited to add Darren Chadwick to our team, and to bring all the advantages of our solution to this fast-growing market.” For international students attending schools in Canada, Flywire offers best-in-class currency conversion rates, 24/7 payment tracking, multi-lingual customer service, and the ability to pay in 70 different local currencies. Education institutions benefit from Flywire’s payment reconciliation tools, global account servicing, and easy-to-use digital tracking.