Zepz, the worldwide funds group headquartered in London and the father or mother firm of WorldRemit and Sendwave, has secured a complete of US$165 million in revolving and time period services.
The US$110 million revolving credit score facility was led by HSBC Innovation Banking, whereas HSBC Personal Credit score acted as the only real underwriter for the US$55 million time period facility.
This financing strengthens Zepz’s monetary place and equips it with the assets to capitalise on new market alternatives.
Led by HSBC, these services exchange a earlier US$80 million association and construct upon a decade-long partnership between Zepz and HSBC Innovation Banking UK.
Zepz operates two main remittance manufacturers, WorldRemit and Sendwave, serving greater than 9 million customers and facilitating over 8 million transactions every month.
For purchasers, this financing interprets into continued funding in quicker transactions and enhanced reliability when sending cash throughout borders.
By enhancing its monetary flexibility, Zepz will additional optimise switch charges, guaranteeing a greater expertise for its customers.
“Our precedence is making a living transfers quicker, extra reasonably priced, and extra accessible for the communities we serve,”
mentioned Mark Lenhard, CEO of Zepz.
“This expanded facility strengthens our capability to spend money on higher pricing and ongoing innovation, empowering migrants with the instruments they should construct safe futures and overcome monetary boundaries.”
Angela Mylrea, Head of Company Credit score Options at HSBC Innovation Banking UK, added:
“This facility showcases our dedication to offering versatile, tailor-made monetary options to high-growth fintech firms, and we stay up for supporting Zepz because it continues to strengthen its place and providing.”
Regardless of challenges in fintech funding, Zepz secured US$267 million in Sequence F final yr.
Featured picture credit score: edited from freepik
