Zepz Equity

active

The proposed investment is an equity investment of US$20 million to WorldRemit Group Limited (Zepz or the “Company”) as part of its $267 million Series X equity round. The Company, founded in 2010, provides digital cross-border consumer remittances via two brands: Sendwave and WorldRemit. Zepz serves over 9+ million users through its current presence in over 4,600 corridors with over 40 send countries and over 90 receive countries. IFC’s proposed US$ 20 million equity investment will finance the Company’s permanent working capital and to further its foothold in emerging markets (the “Project”).The company has 11 global offices although it operates in 32 countries. The company is a “remote first” company as it operates virtually with staff working from home and staff gather at offsites mostly for specific events. The offices are all in leased spaces. No new assets will be leased or acquired using IFC financing.