Flywire | July 14, 2022
Today, Flywire Corporation , a global payments enablement and software company, announced that it has completed the acquisition of Cohort Go, an international education payments provider that brings additional students, agents and essential student services to Flywire. The acquisition will build on Flywire’s existing education business to accelerate the growth of its agent focus and team, deepen its commitment to product and payment innovation, and further invest in Asia-Pacific (APAC), a key geographic focus for Flywire.
Cohort Go’s core focus is on providing international students with the ability to make cross-border tuition payments through international agents. Cohort Go’s agent platform is expected to bolster Flywire’s existing agent solutions to deliver even greater value to educational institutions, agents, and students. Additionally, with partner relationships in almost 40 geographies, Cohort Go’s global footprint and penetration in APAC and Latin America also present new growth and expansion opportunities for Flywire.
“Recruiting agencies play a critical role in the international student journey by assisting students in finding placements in higher educational and other institutions. “Cohort Go has been prominent in this space, with a network of over 1,000 agent partnerships, including some of the most prestigious student recruitment agencies in the world.”
Mike Massaro, CEO of Flywire
Massaro continued: “As we continue to invest in our Flywire Advantage – the combination of our next-gen payments platform, proprietary global payment network and industry-specific software – we seek opportunities to embed deeper into the workflows of our clients, agents and payers, with the goal of driving more value for them. Cohort Go’s successful agent platform, global footprint and adjacent services complement our existing capabilities and will help us power the higher education ecosystem into the future.”
Growth in international student recruitment indicates strong secular trend
Recent research suggests that the international education industry is poised for significant growth. According to new data from the market intelligence firm HolonIQ, 8 million international students will be enrolled with foreign higher education institutions by 2030 – 3 million more than were abroad in 2019 – and that their total spending will amount to more than double what it was before the pandemic.
As the demand for higher education accelerates, education agents are expected to play a critical role in international recruitment. Estimates from the international education consultancy, ICEF, suggest that more than 1 million students are placed through agents around the world, and rising. According to a 2021 report from the American International Recruitment Council and the National Association for College Admission Counseling, nearly half (49%) of U.S. colleges who responded were partnered with education agents, which is up from 36% of U.S. in 2017-2018. Agent growth is also on the rise in other popular higher education destination markets like Canada, whose international student population has grown sixfold over the past two decades.
Cohort Go was founded in 2012 by industry experts Mark Fletcher and Paul Jones, who combined their respective expertise in banking and commercial software to enable students to pay for their international education using their local currency, saving on fees and transfer rates. Grounded in their aligned vision to deliver value to the broader education ecosystems, the founders continually sought ways to work with education agents, institutions and students alike, and evolved their single solution into an online platform that offers a tailored experience, with capabilities to reduce costs, increase choice and improve productivity.
Today, Cohort Go partners with more than 1,000 agents globally. Students from more than 180 countries have leveraged Cohort Go, which services more than 60 currencies with local specialists all over the world. The integration of Cohort Go into Flywire’s existing agent platform will enable Flywire to provide even more value to agents, payers, and educational institutions.
Combination of software and payments powers future vertical ecosystems
Cohort Go’s strong regional focus in APAC, global agent relationships, and its existing payment infrastructure will help Flywire bolster its global payment network. Cohort Go’s relationships with payment partners all over the world will add to Flywire’s network of partners, further supporting Flywire’s clients and payers across all vertical industries.
Additionally, the acquisition of Cohort Go also enhances Flywire’s ability to accelerate Flywire’s roadmap to enable a broader suite of financial services targeted to international students and other payers. Already, Cohort Go is improving the way students pay for and save on health insurance, which augments Flywire’s focus on adding more value through its payer services.
“Working with our clients on delivering high-stakes, high-value tuition payments, we’ve continued to discover pain points in the education ecosystem that we believe we’re uniquely positioned to solve,” Massaro continued. “Cohort Go gives us an opportunity to accelerate the investment we have been making to further extend our value proposition to international students. With our Flywire Advantage, we can apply our existing framework of using software to drive value in payments to solve very specific use cases.”
Complements strong organic growth
The acquisition of Cohort Go is a continuation of Flywire’s long-term plan to supplement its strong organic growth and continually expand across all business lines. The acquisition is expected to be modestly accretive to revenue and Adjusted EBITDA. More details will be shared on the upcoming earnings call scheduled for August 9, 2022.
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
EEO | July 08, 2022
In July, 2022, with the support of EEO's hybrid technologies, Peking University successfully concluded the first academic year of its Global Open Courses Program in partnership with a list of distinguished institutions, including Tokyo University, Nanyang Technology University, Moscow State University, Waseda University, University of Granada, Osaka University, Ritsumeikan University, Chulalongkorn University, Cornell University, and Cairo University.
EEO was founded in 2014 with the purpose of building an inclusive and student-centered learning ecosystem through the power of technology. Since 2019, EEO and Peking University joined hands to collaborate on digitizing physical learning environments, constructing specialized archeology classrooms, and adopting hybrid learning methods. It is a nonstop journey for EEO and Peking University to explore how to better motivate students and support educators in experimental teaching strategies. The project of Global Open Courses Program focuses on how hybrid learning gives rise to an enriched learning experience and expands learning communities.
Hybrid learning, a method that incorporates hybrid technologies and open educational practices, has witnessed increasing adoption in K12 and higher ed institutions globally. Teaching Economics as part of the Global Open Courses Program, Professor Huang Yiping successfully engaged students in the classroom and those joining virtually with group discussions and activities.
"Our professor came up with eight topics for discussion, encouraging us to form groups with students overseas. And we have been keeping in close touch with students online as well." Li Yipin, a student in Professor Huang's class, reported.
For many, the program's hybrid courses placed vast learning resources within reach. With abundant course offerings, students had extensive opportunities to explore emerging topics with a cohort coming from diverse background.
The platform of choice, ClassIn, is an all-in-one solution for online and hybrid learning with interactive virtual classrooms, a school management backend system, student learning reports, and more. Currently under internal testing, the product will support more innovative teaching methods by transforming into an LMS, a platform that caters to each step of the learning process in addition to the already powerful synchronous in-class interaction.
It is evident that EEO's product family is designed with the consideration of scientific methods, masterful teaching, and lifelong learning. ClassIn, one of the first online classrooms in the world, was released in 2015. Building on feedback from educators and in-depth research, EEO released ClassIn X, a new hybrid solution for the new era. The company is also in the process of developing TeacherIn, a curriculum co-construction platform. It helps teachers find like-minded partners, with whom they can design and share lessons.
As of now, EEO has partnered with more than 60,000 institutions around the globe and expressed great passion to collaborate with international educators and institutions, sparking the creativity of teachers and creating innovative learning experiences for students.
STRATACACHE, LPI | July 20, 2022
X2O Media, an international provider of hybrid collaboration technology, today announces it has been awarded the status of Accredited Learning Technologies for its X2O OneRoom solution by the LPI (Learning and Performance Institute), the leading global authority on workplace learning and development.
X2O OneRoom technology is an immersive hybrid training platform that provides an engaging learning experience with a human element for in-room and remote learners. To achieve this accreditation, X2O OneRoom technology underwent a rigorous evaluation against a comprehensive set of KPIs developed by industry experts. The assessment included a review of the OneRoom product, the teaching and learning experience and product development roadmap.
Commenting on the accreditation, Edmund Monk, CEO of LPI said: "LPI accreditation is not only an independent validation of an organisation's quality, but also a statement of intent: that it will constantly improve, innovate and develop its portfolio to the benefit of its customers. I am proud to hear of X2O Media's outstanding achievement and look forward to working with them throughout the coming years as they seek to strengthen their position in the market. I have no hesitation in recommending X2O Media to prospective customers and partners as their accreditation proves they are an exceptional provider of learning technologies."
"At X2O Media we are passionate about developing hybrid and virtual learning spaces that meet the high standards and needs of our customers. We are proud to have our OneRoom solution endorsed by the LPI as it reflects our commitment to providing quality, immersive learning experiences," said Mansour Brek, President of X2O Media.
As part of the continued development of X2O OneRoom, X2O Media have also announced the latest release of OneRoom version 2.5 which introduces dynamic seating charts, anonymous polls/quizzes, and the evolution of breakout groups to provide an enhanced learning environment for hybrid learners.
About X2O Media
X2O Media provides technology to build virtual collaboration solutions and unified visual communication solutions for higher education and corporations across the globe. The award-winning X2O Platform represents a new category of communication tools that improves how enterprises and learning institutions engage with their employees and students. X2O Media's collaboration technology has helped organizations like Nestlé, IMD Business School, HEC Montréal, FutureDJs and City of London Freemen's School set a new standard for hybrid meetings, training and learning.
STRATACACHE provides scalable customer experiences, empowering retailers to learn deeply about their customers' shopping preferences and behaviors, allowing for personalized shopper interaction. Our solutions deliver consumer activation at the point-of-decision, generating new sales opportunities and enhanced retail profitability. With 3.3 million+ software activations globally, we power the biggest digital networks for the world's largest brands. Across the STRATACACHE family of complementary digital media/ad tech solution companies, we have the technology, expertise, and track record to bring retail innovation that delivers results.