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Top related persons:
Zepz - 2 Zepz hasn't - 1 Mark Lenhard - 1 It's - 1 Lenhard - 1 Sendwave - 1 MacKenzie Sigalos - 1 hasn't - 1
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British Europe Western Union Amsterdam MacKenzie Sigalos AMSTERDAM Netherlands Atomico U.S
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CNBC - 3 TCV - 1 Sendwave - 1 Getty - 1 Accel - 1 Bank of England - 1 Sky News - 1 PayPal - 1

Search resuls for: "Zepz"


5 mentions found


☆ Zepz, a $5 billion fintech unicorn, is laying off more staff
  + stars: | 2023-11-30 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
Zepz, the money transfer group that owns WorldRemit, made a fresh round of layoffs. "Zepz has entered a redundancy consultation which will could affect less than 2% of its global headcount," a Zepz company spokesperson said in an exclusive statement to CNBC. "Zepz values the contributions these colleagues have made to our company," the spokesperson added. "To fully realise our mission to unlock the prosperity of cross-border communities, we sometimes need to make tough decisions," Zepz told CNBC. The business was last valued at $5 billion, making it one of the largest and most valuable fintech companies in Europe.
Persons: Zepz, Zepz hasn't Organizations: TCV, CNBC, Sendwave Locations: British, Europe
☆ $5 billion fintech Zepz looks to take on rivals like PayPal with digital wallet, M&A plans
  + stars: | 2023-06-15 | by ( Ryan Browne | ) www.cnbc.com   time to read: +4 min
With a $5 billion valuation, Zepz is one of the largest fintech companies in Europe, backed by leading investors including Accel, TCV and Leapfrog. The company enables users to send money from a smartphone or computer to people abroad, who can receive it in their bank account, mobile wallet, or as a mobile airtime top-up. Lenhard didn't identify which companies Zepz was looking to buy, but said the sharp slump in private fintech valuations made it an attractive time to kick off M&A exploration. A particular focus for Zepz product-wise in the near term is digital wallets, Lenhard said, with the company planning to launch its first digital wallet "imminently." He added that he hopes the company's upcoming digital wallet product will convince customers to rely more on Zepz, rather than using competing digital banks and other financial apps which have grown their services to offer a much wider range of products.
Persons: Mark Lenhard, Zepz, It's, Lenhard, Sendwave Organizations: Getty, CNBC, Accel, Bank of England, Sky News, PayPal Locations: Europe, Western Union
☆ Here's what's hot — and what's not — in fintech right now
  + stars: | 2023-06-10 | by ( Ryan Browne Arjun Kharpal Mackenzie Sigalos | Ryan Browne | Arjun Kharpal | ) www.cnbc.com   time to read: +12 min
So what's hot in fintech right now? One area fintech companies are getting excited by is an improvement to online checkout tools. Callan Carvey, global head of operations at Cleo, said the firm's AI connects to a customer's bank account to get a better understanding of their financial behavior. "A job that typically would take around one or two weeks can now be completed in 30 minutes, right. Several fintech executives CNBC interviewed spoke of how they're not interested in launching products tailored to crypto as the demand from their customers isn't there.
Persons: MacKenzie Sigalos, hasn't, they've, Starling, Richard Davies, Davies, Niklas Guske, —, B2C fintechs, David Singleton, Guske, dazzled, Cleo, Callan Carvey, Carvey, Teo Blidarus, Taktile's, Hiroki Takeuchi, Takeuchi, Changpeng Zhao, they're, Jack Zhang, Zhang, Prajit Nanu, cryptocurrencies, Banks, Nanu Organizations: Bank, fintechs, CNBC, Business, Allica Bank, B2B, Tiger, Schroders Capital, Atom Bank, Schroders, U.S . Securities, Exchange Commission, SEC, U.S, cryptocurrencies Locations: Amsterdam, MacKenzie Sigalos AMSTERDAM, Netherlands, British, Atomico, U.S
☆ JPMorgan and Barclays back $4.5 billion insurance tech giant Wefox
  + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com   time to read: +4 min
German digital insurer Wefox said Wednesday it raised $110 million of fresh funding from backers including JPMorgan and Barclays . The news marks a vote of confidence for the insurance technology space at a time when it faces tough macroeconomic headwinds. Wefox is a Berlin, Germany-based firm focused on personal insurance products, such as home insurance, motor insurance and personal liability insurance. Wefox said it raised the fresh funds through a combination of debt financing and fresh equity. A further of $55 million equity investment was led by Squarepoint Capital, a global investment management firm with $75.7 billion in assets under management.
☆ Western Union rival Zepz lays off 26% of employees as fintech cuts continue
  + stars: | 2023-05-16 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
Zepz, which owns the WorldRemit and Sendwave brands, has a total headcount of around 1,600. Money transfer group Zepz is laying off 420 employees, the company told CNBC exclusively, as the fintech sector grapples with a tough macroeconomic environment. The London-headquartered company began informing employees of the redundancies on Monday, with individual staff being told by their managers before larger communications were issued. Zepz, which owns the WorldRemit and Sendwave brands, has a total headcount of around 1,600, meaning the cuts translate to about 26% of its workforce. In June 2022, Zepz implemented redundancies affecting around 5% of its workforce, according to Sky News.
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