Since its founding in 2013, Invoiced has provided B2B finance teams with a software as a service (SaaS) solution that automates Accounts Receivable (AR) procedures. The solution manages payer interactions and invoicing, as well as payments reconciliation with ERP systems.

It says it does this via integrating with well-known ERPs and accounting systems, such Oracle NetSuite, Sage Intacct, and Microsoft Dynamics.

The purchase, the details of which have not been made public, would allow Flywire to "build on Invoiced's successful track record of providing invoicing software to a diversified client base across industries and geographies," according to the company.

The company further projects that the combination of its payments network and Invoiced's AR product would give a "combined full-suite software and payments solution that streamlines workflows for finance departments" to the B2B payments industry.

Flywire claims that over 140 different currencies may be paid for in 240 different nations and territories throughout the globe using its previously mentioned unique global transaction network.

"Invoiced will help us significantly accelerate our product roadmap, and its Accounts Receivable product focus has strong alignment with Flywire's global payment acceptance capabilities," Flywire CEO Mike Massaro said in a statement regarding the purchase.

Massaro goes on, "We look for M&A opportunities that will help us strengthen our financial performance and enhance our value proposition."

Regarding this, it is projected that Flywire's 2024 financial results will benefit from the purchase with around $2 million in sales and significant "software-like" profit margins.

Flywire's growing acquisition portfolio now includes Invoiced in addition to Australian international education paytech Cohort Go and UK education payments company WPM.