Zepz Strengthens Financial Position with £128M Injection from HSBC
Deal News | Apr 01, 2025 | Business Cloud
The global payments group Zepz, known for its remittance brands WorldRemit and Sendwave, has secured a total of £128 million in revolving and term facilities. This financial boost, led by HSBC Innovation Banking UK, involves an £85 million revolving credit facility and a £43 million term facility underwritten solely by HSBC Private Credit. This agreement replaces a previous £62 million arrangement and highlights the decade-long partnership between Zepz and HSBC Innovation Banking. The funding will enable Zepz to enhance its financial stability and pursue new market opportunities. Serving over 9 million users and facilitating more than 8 million monthly transactions, Zepz aims to invest in faster and more reliable money transfer services. Mark Lenhard, CEO of Zepz, emphasized the company’s commitment to making money transfers faster, affordable, and accessible, aiming to empower migrants with financial tools for secure futures. Angela Mylrea of HSBC underscored the bank’s dedication to providing tailored financial solutions to thriving FinTech firms.
Sectors
- FinTech
- Banking
- Global Remittance
Geography
- United Kingdom – Zepz is based in London, and HSBC Innovation Banking UK is a key partner, spotlighting the UK's role in global fintech and banking solutions.
Industry
- FinTech – Zepz operates within the financial technology sector, providing innovative digital payment solutions through brands like WorldRemit and Sendwave.
- Banking – HSBC, as a major banking institution, is critical in providing financial support and credit facilities to enable Zepz's strategic growth.
- Global Remittance – Zepz, through WorldRemit and Sendwave, is a significant player in the global remittance market, facilitating cross-border money transfers.
Financials
- £128 million – Total financing secured by Zepz in revolving and term facilities.
- £85 million – The amount for the revolving credit facility led by HSBC Innovation Banking.
- £43 million – The term facility underwritten by HSBC Private Credit within the financing package.
- £62 million – The previous arrangement that the new £128 million financing replaces.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Zepz | Target Company | Company | A London-based FinTech company specializing in digital payment solutions, notably through brands WorldRemit and Sendwave. |
| WorldRemit | Remittance Brand | Company | A digital remittance brand under Zepz, facilitating cross-border money transfers. |
| Sendwave | Remittance Brand | Company | A mobile-first remittance service operated by Zepz, focusing on sending money from North America and Europe to Africa and Asia. |
| HSBC | Financial Provider | Company | A global banking and financial services organization providing credit facilities to Zepz. |
| HSBC Innovation Banking | Lead Financial Institution | Company | A division of HSBC providing innovative banking solutions, leading the revolving credit facility for Zepz. |
| HSBC Private Credit | Underwriter | Company | Part of HSBC, underwriting the term loan facility within the financing package for Zepz. |
| Mark Lenhard | CEO | Person | CEO of Zepz, steering the company’s strategic growth. |
| Angela Mylrea | Head of Corporate Credit Solutions | Person | Overseeing corporate credit solutions at HSBC, involved in the partnership with Zepz. |