Money Transfer Firm Zepz Set for Sh2.6bn IFC Investment for Expansion

Prominent money transfer firm Zepz,  is poised to receive a Sh2.6 billion ($17.3 million) cash injection from the International Finance Corporation (IFC), signaling a significant expansion drive across key markets. The funding, aimed at supporting the company's growth, will bolster its capacity to enhance digital financial services, particularly in underserved and emerging markets.

This investment aligns with the firm’s mission to promote financial inclusion by providing secure, fast, and affordable money transfer solutions to millions of users who rely on remittances. The company is expected to leverage the IFC's funding to scale its operations, expand its agent network, and integrate new technologies that will enhance customer experience and financial access.

As global demand for digital money transfers grows, this capital boost comes at a crucial time, allowing the company to capitalize on market opportunities and broaden its footprint across Africa and other regions.

This strategic investment is part of the IFC's broader commitment to supporting financial technology and inclusion in emerging markets, ensuring that more people can access vital financial services.

Details on the firm’s expansion strategy and key target markets are expected to be announced in the coming weeks.