Zepz raises $267m from Accel and other backers to expand its payments platform
The round was led by Accel to support the company in growing its cross-border operations.
$267M
≈ £204M at $1 = £0.7643 on 7 Oct 2024
Zepz operates an international money transfer platform that enables users to send funds across more than 150 countries.
Zepz has secured $267m in a new funding round led by Accel, with participation from Leapfrog, TCV, Coller Capital, and the International Financial Corporation.
The international money transfer company intends to direct the capital towards expanding its operations and business reach beyond African markets.
This financing follows a $292m Series E round raised in 2021, which preceded the acquisition of Sendwave and a subsequent corporate rebranding.
From the founder
"We certainly saw it during COVID. We’ll see it when there’s an earthquake. We’ll see it when there’s geopolitical unrest in the country. More money will flow in because people get concerned about their families, about their communities, and that’s their time of need."
ML
Mark Lenhard
Chief Executive Officer at Zepz
Use of funds
- 01Expand into international markets
- 02Scale operations
