My guest on episode 198 has a passion for going after the big problem and doing what people think can’t be done, as well as a genuine intrigue with the power that disrupted companies can have on just about any individual. In fact, Flywire CEO Mike Massaro likens the time spent in fintech companies to dog years: It may be five years on paper but in terms of experience, it really is so much more.
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For those of you who may not know, Flywire is a fintech company that sits at the intersection of software and payments. They offer best-in-class, enterprise-grade software for specific industries, as well as cutting-edge payments technology. Their target market consists of clients in industries that have been left behind and their ultimate goal is to digitize these industries and bring them up to speed with more modern offerings when it comes to their back-office capabilities.
Originally going to market as a payments company specifically for the education sector called Peer Transfer, Flywire went from a startup model with roughly 30 employees and hundreds of thousands of dollars in potential revenue to a publicly traded company with thousands of “flymates” and hundreds of millions of dollars in potential revenue. As for their competitive advantage, they cater to the market need with market-leading experts and cutting-edge technology versus generic solutions backed by generic teams.
Tune in to hear Mike talk about his journey to CEO, why he refused the offer at least twice before saying yes, and where he sees the industry going in the next 2 to 3 years including more payment methods and a back-office protocol that functions seamlessly without requiring multiple system integrations to support it.
