To enhance customer experience and expand services
- The facility strengthens Zepz’s ability to offer better pricing and expanded services for millions of customers worldwide.
- Deepening its decade-long partnership with HSBC Innovation Banking, the financing replaces a previous $80 million arrangement, increasing to a $110 million Revolving Credit Facility (RCF) and a $55 million term loan.
- The expansion of working capital supports Zepz’s scalability and reinforces its leadership in the global payments sector.
London, April 1, 2025 –
Zepz, the global payments group behind WorldRemit and Sendwave, has secured a total of $165 million in revolving and term facilities. The $110 million revolving credit facility was led by HSBC Innovation Banking while HSBC Private Credit was the sole underwriter of the $55 million term facility. The financing strengthens Zepz’s financial position and equips Zepz with the resources needed to capture new market opportunities.
Led by HSBC, these facilities replace a previous $80 million arrangement. The financing builds on a decade-long partnership between Zepz and HSBC Innovation Banking UK.
Zepz powers two major remittance brands, WorldRemit and Sendwave, which together serve more than 9 million users and facilitate over 8 million monthly transactions. For customers, the financing means continued investment in faster transactions and improved reliability when sending money across borders. By enhancing its financial flexibility, Zepz will further optimize transfer fees, ensuring an even better experience for its customers.
“Our priority is making money transfers faster, more affordable, and more accessible for the communities we serve,” said Mark Lenhard, CEO at Zepz. “This 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.”
Barrie Morris, CFO at Zepz, stated: “By lowering borrowing costs, this facility improves our financial flexibility and ensures we can continue delivering high-quality, cost-effective services. The additional capital allows us to strengthen our operations, supporting our long-term growth and commitment to our customers. We’re delighted to have once again partnered with HSBC Innovation Banking – a key strategic partner for our long-term vision to continue enhancing the services we provide to our customers.”
Angela Mylrea, Head of Corporate Credit Solutions, HSBC Innovation Banking UK, added: “We are delighted to deepen our long-standing partnership with Zepz and mark this next milestone on the company’s growth journey. This 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.”
Zepz has made significant strides and matured as a profitable company. Despite challenges in fintech funding, it secured $267 million in Series F last year, underscoring its commitment to innovation and sustainable growth. The new facility further reflects the market’s confidence in Zepz’s ability to scale and lead in the global payments sector.
About Zepz
Zepz powers two leading global remittance brands, WorldRemit and Sendwave, to build the next generation of cross-border payments. Serving over 9 million customers across 5,000 corridors, Zepz is transforming how money moves across borders by making it faster, safer and more convenient. Its innovative digital solutions are designed to break down financial barriers and expand access to better financial tools. Zepz operates across a broad global footprint, connecting the global north and south and enabling migrants to support loved ones, fuel local economies and build better futures.
About HSBC Innovation Banking
HSBC Innovation Banking provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries. HSBC Innovation Banking UK is a subsidiary of HSBC Group, benefiting from its stability, strong credit rating and international reach to help fuel its growth.
About HSBC Holdings PLC
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,017bn at 31 December 2024, HSBC is one of the world’s largest banking and financial services organisations.