Zepz, Formerly WorldRemit, Raises Cash at $5 Billion Valuation

Zepz, the company formerly known as WorldRemit Group, has raised $292 million in a fundraising round that values the money-transfer business at $5 billion.

The round includes new investors including Farallon Capital as well as existing shareholders LeapFrog, TCV and Accel, the London-based company said in a statement on Monday, confirming an earlier Bloomberg News report.

The company created the Zepz brand after WorldRemit bought Africa-focused remittance app Sendwave in a $500 million deal announced last August. The Sendwave acquisition valued the combined companies at more than $1.5 billion, Bloomberg News reported at the time. WorldRemit, a cross-border digital ...