Zepz secures $267m Series F led by Accel
Zepz, an international money transfer service group, has bagged $267 million in a Series F equity round spearheaded by global venture capital firm Accel.
Zepz lands $267 million Series F
Previous backers Leapfrog and TCV supported the raise, while the International Financial Corporation (IFC), of the World Bank Group, has pledged a “potential investment” of up to $20 million as part of the round.
Currently powering cross-border payment brands Sendwave and WorldRemit, Zepz says it will use the funds to “fuel entry into new markets and support the expansion of new products such as Zepz Wallet”.
Mark Lenhard, who has served as group CEO since 2022, adds that the funding will “allow Zepz to channel more capital towards growth and innovation”.
The cash injection adds to a $292 million Series E round raised in 2021 at a group valuation of $5 billion.
Headquartered in London, UK, Zepz currently facilitates cross-border payments between over 40 send countries and 90 receive countries, and reached full-year profitability in 2022.
