Payment unicorn Zepz raises $267 million from World Bank, Accel and TCV
- Zepz raised $267 million for expansion in Africa.
- The company reached profitability for the first time two years ago.
- Zepz was previously valued at $5 billion in 2021.
Zepz's recent funding round indicates strong investor confidence in the fintech sector, particularly in cross-border payments. However, the company's decision to pause its IPO and the significant workforce reductions raise concerns about its operational stability and long-term strategy. It will be crucial for Zepz to effectively utilize this funding to navigate challenges and capitalize on growth opportunities in the evolving market.
