Zepz Secures €152 Million Investment to Strengthen Global Remittance Services

Zepz Secures €152 Million Investment to Strengthen Global Remittance Services

London-based Zepz, the parent company of popular remittance services such as WorldRemit and Sendwave, has secured a substantial financial boost of €152 million in revolving and term credit facilities. This strategic funding is set to significantly enhance Zepz’s position in the competitive remittance market.

Details of the Financial Boost

The financing package includes a €101.7 million revolving credit facility and a €50.8 million term facility, primarily arranged by HSBC Innovation Banking. Notably, HSBC Private Credit acted as the sole underwriter for this deal. This new arrangement replaces a previous credit facility of €74 million, showcasing HSBC’s growing confidence in Zepz after a decade-long partnership.

Strengthening Global Remittance Services

Zepz plays a crucial role in the global remittance market by enabling secure and efficient cross-border transactions through its brands, WorldRemit and Sendwave. The company is committed to enhancing financial accessibility while minimizing costs and improving the safety of money transfers worldwide.

Planned Investments and Future Directions

With the newly acquired funds, Zepz aims to invest in advanced technology that will:

  • Accelerate transaction speeds
  • Enhance the reliability of cross-border money transfers
  • Improve pricing structures

These initiatives are expected to empower migrants, helping them overcome financial obstacles and build secure futures.

Expert Insights on the Funding

According to Barrie Morris, CFO at Zepz, the enhanced financial flexibility from lower borrowing costs will be pivotal in maintaining high-quality, cost-effective services. He stated, “The additional capital will strengthen our operations and support our long-term growth, reinforcing our commitment to our customers.”

Echoing this sentiment, Angela Mylrea, Head of Corporate Credit Solutions at HSBC Innovation Banking UK, expressed enthusiasm for the strengthened partnership, stating, “We are delighted to deepen our long-standing partnership with Zepz and mark this next milestone on the company’s growth journey.”

READ ALSO  Lumin Digital Secures $160 Million in Growth Funding to Revolutionize Cloud-Digital Banking

Previous Funding Success

In a prior funding round, Zepz successfully raised €247 million in Series F funding, a clear indicator of the market’s confidence in the company’s capability to lead and expand within the global payments sector. For more information about Zepz’s impact in the fintech industry, check out this Forbes article discussing the future of fintech.

For further updates about Zepz and its services, visit Zepz’s official website.

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