Zepz Raised $292 Million in Series E Financing Round

Zepz, previously known as WorldRemit, announced that it has secured $292 million in new primary series E financing, achieving a valuation of $5 billion.

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Zepz operates two leading global payments brands: WorldRemit and Sendwave. The two brands offer a faster and more flexible user experience at fairer prices. In 2020, Zepz' brands enabled over 4.5m monthly transactions on its platform generating almost $10 billion of gross send volumes and $338 million of revenues.

According to the release, the latest funding round includes new equity investors, Farallon Capital among others, as well as existing investors Leapfrog, TCV and Accel.

This round will allow Zepz to continue to invest in its technology, platform and customer proposition. Zepz sees significant growth opportunities both in its existing markets by driving engagement and deeper market penetration, as well as expanding into new markets and further extending its platform to offer additional value-added services to its users.

“Today's announced raise is another important step in the execution of our strategy. Following the acquisition of Sendwave we have made significant progress with the integration of the different businesses and are retaining both the Sendwave and WorldRemit brands. In that context we are proud to announce the rebranding of our holding Company to Zepz,”Breon Corcoran, CEO of Zepz said.

“The additional funds raised enable us to accelerate investment to prosecute our very sizeable growth opportunity whilst further strengthening our high-quality investor base and our mission to provide fair, fast, flexible payments for our customers,”Breon added.