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Zepz raises USD 292 mln, achieves USD 5 bln valuation

Monday 23 August 2021 09:46 CET | News

Zepz, formerly WorldRemit, a digital cross-border payments platform has raised USD 292 million in new primary financing, achieving a valuation of USD 5 billion.

Zepz reaches over 5,000 money transfer corridors, including emerging markets with high barriers to entry, establishing digital connectivity into geographies that had previously been underserved. WorldRemit and Sendwave brands offer a faster (85% of transactions settled in minutes) and more flexible (digital offering with multiple pay-in and pay-out options) user experience at fairer prices. 

The funding 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.

In 2020, Zepz’ brands enabled over 4.5 million monthly transactions on its platform generating almost USD 10 billion of Gross Send Volumes and USD 338 million of revenues.

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Keywords: money transfer, money remittance, cross-border payments, digital payments, funding
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce