WorldRemit, a digital cross-border fund platform based in London, recently announced that it had secured $292m in funding and a valuation of $5B.
In response to an official announcement shared by the corporate, the latest funding spherical contains new fairness traders, Farallon Capital amongst others, in addition to current traders Leapfrog, TCV and Accel.
WorldRemit also announced its rebranding as Zepz, along with Sequence E funding. Zepz will be able to accelerate its expansion with the most recent funding. The corporate also plans to increase funding for its know-how, buyer proposition, and platform.
Breon Corcoran (previously WorldRemit) stated that the new funding spherical was a crucial step in the execution of the company’s strategy. After the acquisition of Sendwave we made significant progress in the merging of these companies. We are keeping each of the WorldRemit and Sendwave manufacturers. We are proud to announce that Zepz, our holding firm, has been rebranded to Zepz. We will be able to accelerate funding for our large progress alternative, as well as strengthening our high-quality investor base. This will allow us to provide honest quick flexible funds to our clients.
TransferWise was the number one cross-border fund platform. In this year’s 12 months, it changed its name to Sensible. It also introduced the expansion of its companies.
Zepz is headquartered in London and operates two global funds platforms, Sendwave and WorldRemit. Zepz’s fund transfers have enabled more than 4.5 million monthly transactions on their platform in the last 12 months. This has produced almost $10 billion in gross volumes and $338 millions of revenue. The corporate also has regional offices in many countries, including the US, Malaysia and Singapore as well as Hong Kong, Hong Kong, Hong Kong, Australia, and Singapore
“Zepz sees vital progress alternatives in its current markets by driving engagement and deeper market penetration, in addition to increasing into new markets and in additional extending its platform to supply further value-added companies to its customers,” the corporation said in its press release.