Accel, TCV, World Bank Support Zepz’s $267 Million Fundraise (1)

Zepz, the money transfer service formerly known as WorldRemit, has raised $267 million from new and existing investors to fund expansion in its core African markets and beyond.

Venture capital firm Accel led the funding round, which also included Leapfrog and TCV. The International Financial Corporation, a global development institution and member of the World Bank Group, pledged to invest as much as $20 million.

Zepz declined to disclose its valuation. The group was last valued at $5 billion when it raised money in 2021, shortly after WorldRemit acquired cross-border payment firm Sendwave and rebranded. That integration led Zepz ...