UK-based cross-border mobile payments firm WorldRemit has raised $292 million in primary financing at a $5 billion valuation and changed its name to Zepz.
Farallon Capital, Leapfrog, TCV and Accel joined the round for Zepz, which is rebranding following last year's acquisition of Africa-focused remittance app Sendwave.
The funding will invested in the firm's technology, platform and customer proposition as it builds on its 11 million users across 150 countries.
Breon Corcoran, CEO, Zepz, says: "Following the acquisition of Sendwave we have made significant progress with the integration of the different businesses and are retaining both the Sendwave and WorldRemit brands. In that context we are proud to announce the rebranding of our holding Company to Zepz."