The global payments group behind WorldRemit and Sendwave has secured a total of 拢128m in revolving and term facilities.聽
London-based FinTech Zepz says the financing will strengthen its financial position and equips it with the resources needed to capture new market opportunities.
The 拢85m revolving credit facility was led by HSBC Innovation Banking while HSBC Private Credit was the sole underwriter of the 拢43m term facility.聽
Led by HSBC, these facilities replace a previous 拢62m arrangement and builds on a decade-long partnership between Zepz and HSBC Innovation Banking UK.聽
Zepz powers two major remittance brands, WorldRemit and Sendwave, which together serve more than 9m users and facilitate over 8m monthly transactions.聽
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For customers, the financing means continued investment in faster transactions and is set to improve reliability when sending money across borders.
鈥淥ur priority is making money transfers faster, more affordable, and more accessible for the communities we serve,鈥� said Mark Lenhard, CEO at Zepz.聽
鈥淭his expanded facility strengthens our ability to invest in better pricing and ongoing innovation, empowering migrants with the tools they need to build secure futures and overcome financial barriers.鈥�
Angela Mylrea, head of corporate credit solutions, HSBC Innovation Banking UK, added: 鈥淲e are delighted to deepen our long-standing partnership with Zepz and mark this next milestone on the company鈥檚 growth journey.聽
鈥淭his facility showcases our commitment to providing flexible, tailored financial solutions to high-growth FinTech companies, and we are looking forward to supporting Zepz as it continues to strengthen its position and offering.鈥�