Zepz is a London-based payments group that powers remittance brands WorldRemit and Sendwave. The company serves more than 9 million users and facilitates over 8 million monthly transactions across 40+ sending countries and 90 receiving countries. Zepz plans to use the new financing to enhance customer experience and expand services. The business is led by CEO Mark Lenhard. Financially, the company secured $165M in growth financing in this round and had previously raised $267M in a Series F last year. Zepz, which rebranded from WorldRemit after acquiring Sendwave, operates a cross-border payments and money-transfer platform. The company is using the new capital to accelerate expansion in its core African markets and beyond. Zepz has said it reached full profitability in 2022. It has a global footprint with headquarters in London and regional offices including South Africa, Uganda, Kenya, Rwanda, Tanzania, and Zimbabwe. The firm previously raised $292M in a Series E round in 2021 and was valued at $5 billion at that time. The company has also undergone headcount reductions, cutting 420 employees (about 26% of staff) in early 2023 and later reducing its headcount by 30. Zepz, formerly WorldRemit, operates two market-leading digital remittance brands—WorldRemit and Sendwave (acquired in 2021)—providing cross-border payments across more than 150 countries and 5,000 money transfer corridors. The platform is fully digital on the sending side and offers multiple pay-in and pay-out options for recipients, with 85% of transactions settling in minutes. Zepz reports over 11 million users (senders and recipients combined) and says the average customer transacts about 4 times per month. In 2020 its brands enabled over 4.5 million monthly transactions, generating nearly $10 billion of Gross Send Volumes and $338 million of revenues. The company employs around 1,500 people and is headquartered in London. Zepz plans to use new funding to invest in technology, its platform and customer proposition, drive deeper engagement and market penetration, expand into new markets, and extend its platform with additional value-added services.

Total raised

$724M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Apr 2025