Zepz, formerly WorldRemit, a London, UK-based digital cross-border payments platform, raised $292m in Series E funding achieving a valuation of $5 billion.
The round includes new equity investors Farallon Capital among others, as well as backing from existing investors Leapfrog, TCV and Accel.
The company intends to use the funds to continue to invest in its technology, platform and customer proposition, grow in its existing markets as well as expanding into new markets.
Led by Breon Corcoran, CEO, Zepz is a digital cross-border payments platform operating two brands (WorldRemit and Sendwave, acquired in 2021), with over 11 million users across 150 countries. The company’s brands currently send from 50 to 130 countries, operate in more than 5,000 money transfer corridors worldwide and employ around 1,500 people globally.
In 2020, Zepz’ brands enabled over 4.5m monthly transactions on its platform generating almost $10bn of Gross Send Volumes and $338m of revenues.
Zepz’ headquarters are in London, United Kingdom with regional offices in the United States, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.