Sertifi, a Chicago hospitality tech company, was bought by Boston-based Flywire for $330 million.
The company’s 130 employees are mostly based in the Chicago area and will join the publicly listed Flywire, according to an announcement last week. Sertifi will keep its West Loop office at 333 N. Green St.
Sertifi’s software lets hotels securely sign documents and complete payments, particularly for events and group booking sales. Global hotel brands such as Marriott, Hilton and Hyatt use its technology, as well as independent luxury hotels such as Sage Hospitality Group and the Corinthia Hotel in London.
The acquisition underscores continued investment in Chicago’s tech market, especially in the West Loop. Google has an office in the neighborhood that was historically the city’s meatpacking and produce district.
Cybersecurity company Fortinet opened a new facility in the West Loop last year, as did video software maker Vyond. Nearby, business incubator mHub opened a $50 million space in 2023, at the corner of West Fulton Street and Ashland Avenue. NanoGraf, maker of advanced lithium-ion batteries, last year announced plans to open a manufacturing and research facility in the West Loop.
Other tech-centered offices are also open in the area such as the research hub CZ Biohub Chicago by the Chan Zuckerberg Initiative.
Sertifi was founded in 2008 by brothers John Stojka and Nick Stojka. They were frustrated with the process of signing agreements and created a platform focused on electronic signatures and online payments.
Flywire, a global payments and software company, supports about 4,500 clients worldwide. Acquisition of Sertifi expands its reach in the travel and hospitality industries. Flywire expects Sertifi to add about $35 million to $40 million of annual revenue.
It funded its acquisition of Sertifi with a combination of cash and debt.