Funding Round attributes
London-based fintech company Zepz, parent to remittance platforms WorldRemit and Sendwave, has secured $165 million in growth financing to bolster its global money transfer services. The funding comprises a $110 million revolving credit facility led by HSBC Innovation Banking and a $55 million term facility exclusively underwritten by HSBC Private Credit. This capital injection follows Zepz’s $267 million Series F round in 2023 and will support efforts to enhance customer experience and expand service offerings.
Zepz operates two major brands: WorldRemit and Sendwave, which collectively serve over 9 million users worldwide. The platforms facilitate more than 8 million transactions monthly, connecting senders across 40 countries with recipients in 90 markets. The company focuses on digital-first cross-border payments, enabling users to transfer funds via mobile apps or websites without requiring physical branch visits.
The $110 million revolving credit facility, structured by HSBC Innovation Banking, provides flexible capital to address operational and strategic needs, while the $55 million term facility from HSBC Private Credit offers long-term financing. These instruments reflect investor confidence in Zepz’s scalable business model and its position in the $800 billion global remittance market. Under CEO Mark Lenhard’s leadership, Zepz aims to leverage the funds to refine platform features, improve transaction efficiency, and broaden its geographic and service reach.
The funding arrives amid increasing demand for digital remittance solutions, particularly in emerging markets where traditional banking infrastructure remains limited. Zepz’s growth underscores the sector’s shift toward accessible, low-cost alternatives to conventional money transfer services. The company’s prior Series F round, one of the largest fintech raises in 2023, positioned it to compete with rivals like Wise and Remitly.
HSBC’s participation highlights its strategic focus on supporting high-growth fintech firms. The revolving credit facility allows Zepz to manage liquidity dynamically, while the term loan provides stability for long-term investments in technology and market expansion. This dual financing approach equips the company to navigate regulatory complexities and currency volatility inherent in cross-border payments.
Zepz’s expansion strategy aligns with global trends favoring digital financial inclusion. By prioritizing user experience and operational scalability, the company aims to strengthen its foothold in key corridors such as Africa, Asia, and Latin America. The latest funding round reinforces Zepz’s capacity to innovate in a competitive sector while addressing the evolving needs of migrant workers and their families reliant on remittances.
