UK’s $5 Billion Fintech Zepz Struggled With Accounting, Churn

UK financial technology startup Zepz, parent of WorldRemit, has struggled with its accounts and turnover in its senior ranks prior to a potential initial public offering, according to people familiar with the matter.

Zepz, which helps consumers transfer money around the globe, had been planning an IPO seeking a valuation of as high as $6 billion (5 billion pounds) as soon as the second quarter, people with knowledge of the matter told Bloomberg in February.

The London-based startup struggled to do checks on certain customer accounts in a timely manner, the people said, who asked not to be ...