Zepz 2023 growth plans display bright future for FinTech

15.06.2023 | 4 minutes read

One year under CEO Mark Lenhard, the 13-year-old FinTech Zepz Group is readying its expansion runway.

Following its strategic integration, Zepz, the Group powering global remittance brands WorldRemit and Sendwave, is aggressively expanding its global footprint, launching new products, and ready to pursue its next strategic acquisitions.

Having achieved operating profitability in H1 2022, Zepz has been laser focused on integrating its acquisitions and preparing its financial runway in order to pursue further market growth and consolidation.

YTD 2023 Performance Highlights (as of April 2023):

Overall customer transactions are up more than 25% globally
New customer growth continues to accelerate to 30% overall, and up to 80% in certain areas of Zepz, proving the impact and scalability of Zepz’s value proposition globally.

Operating Efficiency

Zepz’ 2023 goals include ramping up efficiency, and making a more significant impact in order to scale and consolidate the market. Zepz’s recent workforce optimisation centralised areas of expertise amongst its fintech brands Sendwave and WorldRemit. These efforts have not only enabled the organisation to continue to improve profitability, but also deliver better customer experiences by aligning best in class practices across both brands.

Product Diversification

Increasing financial connectivity, Zepz is driving the creation of new avenues for prosperity in global economies, primarily through financial services specifically designed for migrants and those they empower back home (via remittances). With its appetite for strategic M&A, product innovation and global partnerships, Zepz’s brands are now set up to branch out and develop new and impactful financial services, including an imminent product launch in the digital wallet category.

Zepz has invested strongly in the capabilities of its technology stack. As a world-class software company, the creation of a unified tech stack is poised to bring about a more efficient, dynamic ecosystem to facilitate innovation and expansion. Powering its brands under one interconnected, secure layer of technology leaves the Group in a strong position to scale products that have an echo effect on top of its core remittance base, allowing its key customer demographic to leverage more financial capabilities.

Mark Lenhard, CEO of Zepz Group said, “Zepz Group has reignited our approach to growth and we are seeing results. Despite the general cloud over fintech, our business has been built to weather challenging conditions, and we are committed and more excited than ever about the opportunities ahead to reinvent financial services for our migrant users and their families and communities back home. Given the macro environment our users need us more than ever, and we have no intention of letting them down.”

About Mark Lenhard, CEO of Zepz Group

Mark Lenhard is the CEO of Zepz Group, the parent company powering leading global payments brands WorldRemit and Sendwave.

A finance and technology veteran, Lenhard was most recently the COO of Bill.com, which he joined via the acquisition of Invoice2go, where he served as CEO. He also spun Magento out of eBay, and grew the open-source ecommerce platform and community, before selling it to Adobe in 2018 for $1.68 billion.

Lenhard has held executive roles at JPMorgan Chase where he was Managing Director of Consumer and Community Banking, as well as PayPal where he was Head of Global Strategy.

About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands.

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money.

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.