Global law firm Ashurst is advising international money transfer business Zepz (WorldRemit) on an equity fundraise of up to US$267 million from new and existing investors to fund expansion in its core African markets and beyond.
The fundraise was led by existing investor Accel, along with TCV and Leapfrog. The International Financial Corporation has also pledged to invest as much as US$20 million.
This transaction was an excellent example of Ashurst's multi-disciplinary expertise in the Payments/Fintech space, unlocking value for our client through the close collaboration of our Financial Services M&A and Tech M&A and fundraising teams.
It is also one of the largest Tech fundraises in the UK to date in 2024, for one of the UK's Fintech unicorns.
The Ashurst team was led by Zepz relationship partner Gavin Weir (Head of UK FIG M&A) and Tech M&A partner Chris Grey, supported by corporate associates Tom McCann and Vienna Linley.
Gavin Weir said: "We are delighted to have advised Zepz on this milestone fundraising transaction. This was an excellent example of Ashurst's expertise in the Payments/Fintech space, involving a multi-disciplinary team of Financial Services and Tech M&A colleagues delivering one of the largest UK Payments/Fintech fundraises in the UK to date in 2024. Having advised Zepz on various matters over the last few years, I'm thrilled that the company chose Ashurst for this important strategic role."
Chris Grey (matter partner) added: "Congratulations to the Zepz team, we are delighted to have advised on this important milestone and to have demonstrated again our market-leading capabilities in support of one of the largest Payments/Fintech fundraises for 2024."
