At Zepz, we understand that sending money from home to loved ones overseas can be an expensive and complicated process. That’s why we are committed to making global money transfers more accessible and affordable for everyone, everywhere.
Our hassle-free digital money transfer services provide secure and streamlined movement of funds worldwide with significantly lower transaction fees than conventional methods. Our mission is to make the transaction process simpler, faster, secure and economical without compromising on the quality of service.
We have been making international payments easy since 2000 and have earned the trust of millions of customers through our secure banking partnerships. We have built a platform that provides access to major bank networks across the U.S., Europe, Africa, India, China, Japan and other payment corridors worldwide. We offer convenient ways for individuals, small businesses or large corporations to send money anyplace in a matter of minutes with just a few clicks on their computers and/or mobile phones; this makes our transfer service much easier and faster than ever before – there is no need to visit banks or try to remember lengthy bank code numbers!
Zepz cares about cost efficiency for itself as well as its customers who opt for its services – we seek out only partners whose fees reflect our commitment towards customer service standards-this commitment has enabled us to bring revolutionary savings that can surpass traditional options by up to 90%, meaning you get much more value for your money at a fraction of what you would typically pay elsewhere when sending funds abroad. Moreover, with us, you can rest assured knowing that even when normal banking channels are suspended or unavailable due to legislation or sanctions – our secure digital channels will ensure expedient delivery without delay at all times!
WorldRemit Group rebrands as Zepz, raises $292m Series E funding
The WorldRemit Group, a leading digital money transfer market company, has recently announced that they are rebranding as Zepz to focus more on global money transfers, making money transfers more affordable and accessible.
The tech-driven company has also announced that they have raised a significant $292m series E funding round to help them pursue their ambitions for global payments.
Overview of the company
Zepz is a financial services technology company that has been the core part of WorldRemit Group since 2012. The company aims to make money transfers more affordable and accessible for everyone, regardless of location. Zepz operates a platform allowing customers to send money from over 30 countries worldwide, with services providing low cost and fast money transfers to over 150 countries.
The company provides online payments, bank transfers, cash pickups, bill payments and mobile top-ups. Zepz also offers a range of innovative products such as prepaid cards and prepaid debit cards that enable customers to access their funds anywhere in the world. They also provide tailored solutions for businesses by providing flexible payment arrangements allowing businesses to control how their customers pay.
Being the leading global FinTech company; Zepz are dedicated to continually pushing the boundaries of innovation to provide better services, accessibility and affordability when it comes to making transactions easier all around the world.
Series E Funding
In June 2021, WorldRemit Group announced that it had raised Series E investment of $175 million, led by existing investor TCV and new investor Singapore state-backed GIC. The Series E round was the largest single investment in a digital payments company in Europe and the fastest ever fundraising in digital remittances. The combined value of WorldRemit’s investments now stands at more than $500 million.
The money raised is being used to accelerate global expansion and innovation in mobile payments, including through its rebranded consumer product Zepz. Founded by an award-winning team from TransferWise and Skype, Zepz is designed to make money transfers easier, faster and cheaper than ever. With a slick new user experience inspired by social media apps, Zepz intends to revolutionise how people send money abroad. Customers will also benefit from better security features associated with the WorldRemit brand name.
The scale of this Series E funding reinstates WorldRemit Group’s status as one of the leading companies operating within international payments space today. In addition, it further proves investors interests in innovative fintech companies that are making money transfers safer, faster and cheaper for both senders and recipients alike – no matter where they are located or how much money they want to transfer cross border.
The WorldRemit group recently rebranded to Zepz and announced a massive $292m Series E funding. Zepz’s mission is to make money transfers more affordable for individuals and businesses, particularly those in emerging markets.
Zepz has implemented various strategies to give customers access to low-cost, efficient, and secure money transfers to ensure this goal. Let’s examine how Zepz plans to make money transfers more affordable.
Making money transfers more affordable
At Zepz, we aim to make it easy and affordable for people to transfer money. We provide a convenient digital platform that allows customers to transfer money quickly and securely, while providing competitive prices. From our experience working with traditional money transfer providers, we recognized that the current system was too costly and inefficient. We wanted to make it simpler and cheaper for people who wish to send money abroad or domestically.
To accomplish this mission, we have developed a series of cutting edge technologies designed to streamline sending money internationally. This includes peer-to-peer transfers powered by blockchain technology, allowing customers to transact without relying on banks or expensive third parties. In addition, our approach enables low fees regardless of the currency you are sending from or into, making international transactions more affordable.
To make the service accessible for everyone, we accept multiple payment methods (credit cards, debit cards etc.) including PayPal and Apple Pay making it easy for people of all walks of life to send money worldwide easily.
Our goal is for everyone worldwide to access an easy, secure and affordable way of transferring their hard earned money so they can continue doing what matters most – taking care of themselves and their families.
Increasing access to financial services
At Zepz, we believe in increasing access to financial services for underserved populations. We are committed to providing affordable and easy-to-use money transfers and payments services. Our platform aims to make it easier for individuals and businesses to send and receive money safely, securely, and quickly with minimum fees.
To facilitate this mission, Zepz is constantly looking for ways to level the playing field by offering low cost international transfers compared to traditional providers like Western Union or MoneyGram. In addition, by leveraging the latest technologies in mobile payments systems and digital banking tools, Zepz can bridge traditional friction points of financial inclusion that can otherwise impede vulnerable populations from participating in inclusive finance.
We believe everyone has the right to access fair payment systems regardless of location or socio-economic status — that’s why we strive to create financial products tailored toward those who may lack options regarding money transfer services. Our goal is simple: Ensure all customers can access financial services regardless of circumstances.
Zepz’s Business Model
Zepz, formerly the WorldRemit Group, is a leading cross-border money transfer service. They have recently raised a $292m Series E funding round, and to continue growing, they are looking to make money transfers more affordable.
To this end, they have developed a new business model that they hope will revolutionise the financial industry. Let’s explore how Zepz plans to achieve its goal.
Leveraging Existing Networks
One of the benefits of Zepz’s business model is that it leverages existing payment networks. By working with existing payment and money transfer systems, such as ACH or SEPA, Zepz can keep costs down for its customers by efficiently routing funds through these systems. This approach also reduces the time needed for money transfer by drastically simplifying the transfer process, while simultaneously providing the security and speed of traditional payment networks.
In addition to leveraging existing payments, Zepz has signed agreements with several banks and financial institutions to further optimize their process. This allows them to extend their reach further and benefit from more favorable exchange rates on cross border transactions—making them even more competitive than traditional money transfers.
Furthermore, through these partnerships, Zepz leverages relationships built with key partners to maintain a higher level of security throughout each transaction—ensuring that users’ data is always kept secure. In short, leveraging existing payments networks enables Zepz to keep costs low and security high for their customers.
At Zepz, we believe that leveraging technology can help make money transfers more affordable. As a result, we have identified certain technologies that could be used to help create a more efficient and cost-effective business model.
For instance, we are looking into using Artificial Intelligence (AI) and Machine Learning (ML) algorithms to process large volumes of data to quickly identify patterns and detect opportunities for cost savings in money transfer operations. Blockchain technology is also being explored to create a secure but transparent platform for conducting transactions with minimal fees. Additionally, we are looking into using cloud computing solutions to optimize our processes for quick data retrieval and delivery.
Ultimately, these technologies will allow us to develop a system where our customers can trust that their payments will arrive safely, securely, and cost-effectively within a few minutes or hours. This type of speed combined with the potential cost savings from using these technologies makes it an excellent choice as part of our business model.
Targeting Underserved Markets
Zepz is focused on creating more flexible and cost efficient money transfers for people living in developing countries that lack the resources offered by major banks. The company aims to target underserved markets by making sending money out of Africa, Latin America, and the Caribbean easier, while allowing people to easily transfer money within these regions at no cost.
To achieve this, Zepz works with independent financial entities (IFEs) to develop tailored solutions that leverage technology and infrastructure to create a seamless service. Zepz offers various remittance services such as payments, deposits, transfers and investments. The company also introduces special incentives that make it easier for customers to stay in touch with family members abroad or access services when they cannot do so themselves.
In addition to targeting underserved regions, Zepz also looks for ways to make its products more affordable for customers from all backgrounds. This includes creating deals with local carriers and payment networks for customers. As a result, users can enjoy access to lower-cost money transfers than those offered by larger corporations or the traditional banking industry. By focusing on both accessibility and affordability, Zepz hopes to revolutionize traditional money transfer methods within emerging markets.
From the research and analysis, it is clear that Zepz can successfully offer more affordable remittances by leveraging existing technologies and alternative networks, such as the blockchain. Furthermore, if successful implementation of its main strategies, such as significantly streamlining transaction processes and actively engaging with banks and payment institutions to form partnerships strategically; Zepz should become a formidable player in the industry of money transfers.
With their unique blend of technology and human touch approach, their platform can bring users more cost efficiency and convenience. These benefits, combined with their other innovative solutions, can potentially widen financial inclusion, which would help reduce inequality worldwide.
By offering low-cost remittance services that anyone can access, Zepz is taking a crucial step towards creating a financially inclusive world for all individuals who need it.
tags = WorldRemit Group has rebranded as Zepz, Farallon Capital, $292 million Series E fundraise, Sendwave, londonbased zepz worldremit 292m accel 5bthomsonbloomberg, Breon Corcoran, WorldRemit brands