Companies
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Zepz
Fintech
Zepz is a London-based fintech company operating WorldRemit and Sendwave, digital remittance services that let people send money internationally, particularly to family members in developing countries, more affordably than traditional money transfer services.
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Zepz was founded in 2010 by Ismail Ahmed, an anti-money-laundering expert with personal experience as a Somali refugee, originally launching as WorldRemit, based on the observation that traditional international money transfer and remittance services, historically dominated by companies like Western Union and MoneyGram operating primarily through physical retail locations, often charged relatively high fees for international money transfers, a particularly significant burden for migrant workers regularly sending remittance payments to family members in developing countries, where the World Bank and other development organizations have documented that even modest reductions in international remittance transfer fees can represent meaningful additional income reaching families who depend significantly on these remittance payments. The company's core WorldRemit product provides digital, app-based international money transfer services that let senders transfer money to recipients in many developing countries at meaningfully lower fees than traditional physical retail-location-based money transfer services have historically charged, leveraging digital distribution and reduced physical retail infrastructure costs to offer more competitive remittance pricing, while still supporting the diverse range of ways recipients in developing countries actually receive funds, including traditional bank deposits, mobile money accounts (a particularly important and widely used financial service in many African and other developing market contexts where traditional banking infrastructure remains less developed), and cash pickup options for recipients without either bank or mobile money accounts. The company acquired Sendwave, another digital remittance company with particular strength in certain African money transfer corridors, and rebranded its parent corporate entity as Zepz while continuing to operate both the WorldRemit and Sendwave consumer-facing brands, reflecting a common pattern of fintech companies maintaining multiple distinct consumer brands under a unified parent corporate structure. Zepz's customers span migrant workers and diaspora communities in developed countries sending remittance payments to family members and others in developing countries globally. The company has raised very substantial venture funding from investors including TCV, Accel, and Leapfrog Investments, reaching a valuation exceeding $5 billion, competing with other digital remittance providers including Wise and Remitly.
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