Zepz Secures €152M in New Financing to Drive Global Payments Growth

The fintech company Zepz, which created Sendwave and WorldRemit, has raised €152 million in fresh funding led by HSBC.

Zepz a UK-based startup company has raised €152 million in revolving and term facilities. This fund will help the company to strengthen its financial position along with providing them competitive advantage in the market.

While HSBC Private Credit was the only underwriter of the €50.8 million term loan, HSBC Innovation Banking was in charge of the €101.7 million revolving credit facility.

Under the direction of HSBC, these facilities replace the earlier deal of €74 million. The funding has helped to strengthen the ten-year collaboration between Zepz and HSBC Innovation Banking UK.

Mark Lenhard, the CEO of the company, stated that their priority is to increase the speed, affordability, and accessibility of financial transfers for the local communities they serve. He also stated that they plan to facilitate smooth cross-border transactions by lowering financial obstacles and improving safety and convenience.

The company was founded in 2021 and served 9 million users by being present in 4,000 corridors with more than 40 sending nations and 90 receiving countries.

The secured funding will help the customers to make quicker transactions when transferring funds internationally. The company aims to provide a better experience to its customers, lower transfer fees, and increase its financial flexibility.

Last year, Zepz raised €247 million in Series F funding, and the new facility shows how confident the market is in Zepz's capacity to grow and take the lead in the global payments industry.