Zepz Secures $267 Million for Global Expansion
Zepz, a prominent international money transfer company based in London, UK, has successfully secured a remarkable $267 million in its latest funding round. This substantial investment was spearheaded by Accel, a well-known venture capital firm, while other notable participants in this funding endeavor included IFC, Leapfrog, TCV, and Coller Capital. The infusion of capital is strategically intended to enable Zepz to expand its operations significantly and extend its reach within the global money transfer market, ultimately enhancing the services it offers to customers around the world.
Under the astute leadership of CEO Mark Lenhard, Zepz is the parent company of two well-established international money transfer services, Sendwave and WorldRemit.
Together, these brands have been instrumental in facilitating seamless cross-border payments to various destinations across an impressive 90 countries. In 2023 alone, they played a pivotal role in aiding cross-border communities by enabling the transfer of over $15 billion from 50 countries to recipients situated in an impressive 130 countries. This extensive network has solidified Zepz's position as a key player in the global financial technology landscape.
In addition to their impressive financial achievements, Zepz operates an extensive network of over 2,800 money transfer corridors worldwide and employs a diverse team of over 1,000 professionals globally. Notably, the company achieved full-year profitability in 2022, marking a significant milestone in its growth trajectory. With the recent funding and a clear vision for the future, Zepz is poised to further enhance its innovative services and make an even greater impact on the realm of international money transfers, ensuring that communities around the globe have access to efficient and reliable financial solutions.
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