# Zepz

> Source: https://docs.barcoder.ai/docs/wallets/zepz
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Zepz Group — official](https://www.zepzgroup.com/)

## Overview

**Zepz** is a **UK-headquartered digital cross-border remittance group**, the parent company of the consumer brands **[WorldRemit (Zepz)](https://docs.barcoder.ai/docs/wallets/worldremit)** and **Sendwave** <sup>[1][1], [2][2]</sup>. Originally founded as WorldRemit in **2010** by Ismail Ahmed, the group rebranded its corporate entity to **Zepz** in **2021** after acquiring Sendwave, while keeping both customer-facing brands. Zepz moves money digitally from migrants in higher-income countries to recipients across **Africa, Asia, Latin America and beyond** — primarily into bank accounts, mobile money wallets and cash pickup <sup>[1][1]</sup>.

## History

**2010 — WorldRemit founded** <sup>[1][1]</sup> in London by Ismail Ahmed, a Somali-British former UN remittance adviser.

**2010-2019 — Digital-first remittance growth** <sup>[1][1]</sup>: WorldRemit builds an app/web-based alternative to cash-agent incumbents, serving 150+ countries.

**2020 — Acquires Sendwave** <sup>[2][2]</sup>: WorldRemit acquires Africa-focused, low-fee mobile remittance app Sendwave for ~$500M.

**2021 — Corporate rebrand to Zepz** <sup>[2][2]</sup>: The holding company becomes Zepz, operating WorldRemit and Sendwave as distinct consumer brands; raises a $292M round at a >$5B valuation (Accel, TCV, Leapfrog, others).

**2022-2025 — Consolidation + cost discipline** <sup>[1][1]</sup>: Rounds of restructuring amid fintech downturn while continuing to grow remittance volumes across two brands.

## Ownership & operator

**Operating entity**: **Zepz Group** (London, UK) — holding company for WorldRemit and Sendwave.

**Founder**: Ismail Ahmed (WorldRemit founder).

**Major investors**: Accel, TCV, Leapfrog Investments, Technology Crossover Ventures, Farallon Capital, others.

**Regulators**:
- **United Kingdom**: FCA (authorised payment institution / e-money).
- **United States**: FinCEN MSB + state money-transmitter licenses.
- **Other markets**: per-country financial regulators.

## Technical integration

Zepz operates **app/web digital remittance** across two brands <sup>[1][1]</sup>:

| Layer | Description |
|---|---|
| **Channels** | WorldRemit + Sendwave apps (iOS + Android) + web |
| **Identifiers** | Email + phone number + recipient bank account + card number |
| **Funding** | Sender debit/credit card, bank transfer |
| **Payout rails** | Recipient bank deposit, mobile money (M-Pesa, MTN MoMo, Airtel, etc.), cash pickup |
| **Coverage** | Send from ~50 countries to 130+ receive markets |

## Implementations & partners

**Operator**: **Zepz Group**.

**Consumer brands**: [WorldRemit (Zepz)](https://docs.barcoder.ai/docs/wallets/worldremit) (broad corridor coverage), Sendwave (Africa-focused, low/zero fee, mobile-first).

**Payout partners**: M-Pesa (Safaricom), MTN MoMo, Airtel Money, Orange Money, banks and cash-pickup networks across Africa/Asia/LatAm.

**Competitors**: [Remitly](https://docs.barcoder.ai/docs/wallets/remitly-app), [Western Union](https://docs.barcoder.ai/docs/wallets/western-union), [MoneyGram](https://docs.barcoder.ai/docs/wallets/moneygram), [Ria Money Transfer](https://docs.barcoder.ai/docs/wallets/ria-money-transfer), [Xoom (PayPal)](https://docs.barcoder.ai/docs/wallets/xoom), Wise, [TapTap Send](https://docs.barcoder.ai/docs/wallets/taptap-send).

## Status

**Active, dual-brand digital remittance group** <sup>[1][1], [2][2]</sup>:
- **Zepz Group** (London) — parent of WorldRemit + Sendwave.
- >$5B peak valuation (2021); ~20M customers served across brands.
- Founder Ismail Ahmed; backed by Accel, TCV, Leapfrog.

## Sources

[1]: https://en.wikipedia.org/wiki/WorldRemit "WorldRemit / Zepz — Wikipedia"
[2]: https://www.zepzgroup.com/ "Zepz Group — official site"
[3]: https://techcrunch.com/2021/08/24/zepz-raises-292m-at-a-5b-valuation/ "Zepz $292M round — TechCrunch"

- [1] [WorldRemit / Zepz — Wikipedia][1]
- [2] [Zepz Group — official site][2]
- [3] [Zepz $292M round — TechCrunch][3]

## Source

Biography extracted from [zepz.md](https://docs.barcoder.ai/source/wallets/zepz). See `matrix.md` for standards-support matrix if present.