Sendwave

Sendwave is a digital remittance brand focused on making international money transfers from North America, Europe, and parts of Asia to recipients in Africa, Asia, Latin America, the Middle East, and other emerging markets. The service is designed around a mobile-first customer experience: senders generally initiate transfers through the Sendwave app or website, complete identity checks, connect a debit card or bank account, select a destination and beneficiary, and fund the transaction digitally. Depending on the receiving country and corridor, recipients may receive money through a mobile-money wallet, bank deposit, cash pickup, airtime top-up, or another locally supported payout method. The business was founded in 2014 and initially concentrated on remittances to African countries, beginning with destinations including Kenya and Ghana. Its early proposition reflected the rapid adoption of mobile-money services across Africa. Rather than requiring recipients to maintain a conventional bank account or travel to a remittance branch, Sendwave emphasized direct delivery into mobile wallets and other locally familiar channels. This model positioned the company as a technology-oriented alternative to traditional cash-transfer networks, particularly for diaspora customers sending regular household support. Sendwave was originally associated with Chime Inc. In 2020, it expanded beyond its initial African focus by launching services to South Asian destinations such as Bangladesh and Sri Lanka. In February 2021, WorldRemit Group acquired Sendwave in a transaction reported at approximately $500 million. WorldRemit Group subsequently became known as Zepz. Although Sendwave became part of the Zepz group, it continued to operate under its own brand and through its own consumer-facing app rather than being fully absorbed into the WorldRemit name. The brand continued expanding its destination network after the acquisition. It entered Lebanon in 2022, launched services to Mexico in June 2023, and entered Morocco in November 2023 through a partnership with Chaabi Cash, a subsidiary of Banque Centrale Populaire. These moves broadened Sendwave’s geographic proposition beyond its original Africa-centered identity and extended its reach into additional remittance corridors with significant diaspora demand. Sendwave’s service proposition combines speed, digital convenience, and access to local payout infrastructure. Transfers may arrive instantly or within several hours, although delivery time depends on the route, payment method, compliance checks, recipient institution, and local operating conditions. The company has described a network of more than 185 partners, including banks, telecommunications companies, fintech firms, and cash-payout agents. Its network supports more than 200 corridors across over 100 countries, according to the supplied reference material, though the exact availability of destinations and payout methods can change. The brand’s prominent receiving markets include Kenya, Nigeria, Ghana, Uganda, Liberia, Tanzania, and Bangladesh. Sendwave commonly competes through low or no transfer fees on selected routes, exchange-rate pricing, a simplified app-based workflow, and integration with mobile-money and banking systems. These features make it particularly relevant to recurring person-to-person remittances, including funds sent by migrant workers and diaspora communities to family members. Sendwave remains an active brand within Zepz. In 2024 and 2025, Zepz announced financing intended to support the group’s cross-border remittance operations, including the Sendwave and WorldRemit services. Sendwave therefore occupies a specialized position within Zepz’s portfolio: a digitally oriented remittance service with strong roots in African mobile-money corridors and an expanding international destination network.

Sendwave was established in 2014 as a mobile-oriented remittance business associated with Chime Inc. Its initial focus was on transfers from diaspora markets to African countries, with Kenya and Ghana among its early destinations. The company developed around the idea that remittances could be delivered directly into mobile-money wallets and other local financial channels, reducing the need for recipients to use physical branches or collect cash from traditional money-transfer locations. This focus coincided with the rapid growth of mobile financial services in Africa. In several markets, mobile wallets became important tools for receiving funds, paying bills, and managing household finances, including for people who did not use conventional bank accounts. Sendwave’s app-based model allowed senders to initiate transactions remotely while relying on local banks, mobile operators, fintech companies, and payout agents to complete delivery in the recipient’s country. The company broadened its geographic reach in 2020, when it began offering services to destinations outside Africa, including Bangladesh and Sri Lanka. This expansion marked a shift from a primarily Africa-centered remittance proposition toward a wider emerging-markets network. The underlying service model remained consistent: senders used a digital interface and card or bank funding, while recipients received funds through whichever local channel was available for the relevant corridor. In February 2021, WorldRemit Group acquired Sendwave in a deal reported at approximately $500 million. The acquisition brought Sendwave into the corporate group that later adopted the Zepz name. Rather than eliminating the Sendwave identity, the group retained it as a separate brand and continued operating the Sendwave app. This allowed Sendwave to preserve its existing customer proposition and corridor specialization while benefiting from the broader infrastructure and resources of a global remittance group. Sendwave continued adding destination markets after the acquisition. It launched in Lebanon in 2022, announced a Mexico launch in June 2023, and entered Morocco in November 2023 through Chaabi Cash, which is affiliated with Banque Centrale Populaire. These developments extended the brand’s reach into the Middle East, Latin America, and North Africa, while reinforcing its reliance on local partners for compliant payout and distribution services. Operationally, Sendwave offers transfers funded through debit cards or bank transfers. Depending on the market, delivery may occur through a mobile wallet, bank account, cash-pickup point, airtime service, or another local method. The company’s stated network includes more than 185 partners and more than 200 corridors across over 100 countries. Transfer speed can range from near-instant delivery to several hours, subject to destination infrastructure, verification procedures, payment method, and regulatory controls. Sendwave’s receiving-market footprint has included Kenya, Nigeria, Ghana, Uganda, Liberia, Tanzania, and Bangladesh, among other destinations. The brand’s principal competitive themes are convenience, speed, mobile accessibility, and comparatively low pricing on selected routes. It serves recurring personal remittances as well as other cross-border transfers, with particular relevance to diaspora communities supporting relatives in countries where mobile wallets and agent networks are widely used. The corporate structure around Sendwave changed further in the 2020s. Chime Inc. and WorldRemit Corp. merged in January 2024, while Sendwave continued to be presented as an independent brand within the wider Zepz ecosystem. Zepz later announced a $267 million Series F round in October 2024 and $165 million of growth financing in April 2025. Those financing announcements were directed at the group’s cross-border remittance activities, including Sendwave and WorldRemit. Sendwave remains an active Zepz brand, combining a distinct mobile consumer identity with access to the group’s international payments infrastructure.

• 2025

  Zepz growth financing

  [1]Sendwaveen.wikipedia.org

  Zepz announced $165 million in growth financing comprising a revolving credit facility and a term loan.

• 2024

  Zepz Series F financing

  [1]Sendwaveen.wikipedia.org

  Zepz raised $267 million in Series F financing to support its international remittance businesses, including Sendwave.

• 2023

  Launch in Mexico

  [1]Sendwaveen.wikipedia.org

  Sendwave announced services enabling transfers to Mexico.

• 2023

  Morocco partnership with Chaabi Cash

  [1]Sendwaveen.wikipedia.org

  Sendwave entered Morocco through Chaabi Cash, a Banque Centrale Populaire subsidiary.

• 2022

  Entry into Lebanon

  [1]Sendwaveen.wikipedia.org

  Sendwave added Lebanon to its destination network.

• 2021

  Acquisition by WorldRemit Group

  [1]Sendwaveen.wikipedia.org

  WorldRemit Group acquired Sendwave in a transaction reported at approximately $500 million. The business continued under the Sendwave brand.

• 2020

  Expansion into South Asia

  [1]Sendwaveen.wikipedia.org

  Sendwave launched services outside Africa, including offerings to Bangladesh and Sri Lanka.

• 2014

  Sendwave was founded

  [1]Sendwaveen.wikipedia.org

  Sendwave was established as a mobile-first remittance company associated with Chime Inc., initially focusing on transfers to African markets.

Low-cost, mobile-first international remittances with rapid delivery through mobile wallets, banks, cash-payout networks, and other local financial channels.

• Money transfer · 2014

  International remittances

  Sendwave’s core service allows customers to send money internationally through its mobile app or website. Customers typically complete identity verification, choose a destination and beneficiary, and fund the transfer with a debit card or bank account. Depending on the corridor, funds may reach the recipient instantly or within several hours. Pricing, exchange rates, limits, and delivery timing vary by market and payment method.

• Mobile financial services · 2014

  Mobile-wallet transfers

  Mobile-wallet delivery is a central part of Sendwave’s proposition, particularly in African markets where mobile-money accounts are widely used. The service connects international senders with local mobile operators and payment partners so that recipients can receive funds directly into supported wallets without needing a traditional bank account.

• Money transfer

  Bank deposits and cash pickup

  For corridors that support them, Sendwave offers delivery to bank accounts and cash-pickup locations. These options extend the service beyond mobile wallets and allow recipients to use the payout method most suitable for their local financial access. Availability is determined by destination-country partners and applicable compliance requirements.

• Telecommunications and payments

  Airtime top-ups

  Airtime top-up is an additional delivery or support option on selected routes. It allows a sender to provide mobile credit to a recipient through supported telecommunications and payment partners rather than making a conventional bank or wallet transfer.

• 2023

  Expansion through local payout partnershipsStrategy

  Background

  Sendwave sought to extend its remittance network into additional markets while relying on locally established payment infrastructure.

  Action taken

  The company entered Morocco through Chaabi Cash, a subsidiary of Banque Centrale Populaire.

  Aftermath

  The partnership added Morocco to Sendwave’s destination network and expanded its North African coverage.

  Source

• 2021

  Joining the WorldRemit GroupM&A

  Background

  Sendwave had developed a mobile-first remittance network centered on African corridors and was expanding internationally.

  Action taken

  WorldRemit Group acquired Sendwave for a reported approximately $500 million while retaining Sendwave as a separate brand and app.

  Aftermath

  WorldRemit Group later became Zepz. Sendwave continued operating as an independent consumer-facing brand within the group.

  Reported acquisition value. $500 million (February 2021)

  Source

• 2020

  Expansion beyond AfricaStrategy

  Background

  Sendwave initially concentrated on remittances to African countries.

  Action taken

  The company began offering services to South Asian destinations including Bangladesh and Sri Lanka.

  Aftermath

  The move broadened Sendwave’s destination network while preserving its mobile-first transfer model.

  Source

• 2025

  Zepz secured growth financing from HSBC-linked lenders[1]Sendwaveen.wikipedia.org

  Other

  Zepz announced $165 million in growth financing led by HSBC Innovation Banking UK and HSBC Private Credit, comprising a revolving credit facility and a term loan to support its remittance businesses, including Sendwave.

• 2024

  Zepz raised Series F financing[1]Sendwaveen.wikipedia.org

  Other

  Zepz announced a $267 million Series F financing round led by Accel, LeapFrog Investments, TCV, and the International Finance Corporation. The funding was intended to support the group’s global remittance services, including Sendwave and WorldRemit.

• 2023

  Sendwave launched services to Mexico[1]Sendwaveen.wikipedia.org

  Product launch

  The company announced a Mexico service launch, extending its remittance network into Latin America.

• 2023

  Sendwave entered Morocco through Chaabi Cash[1]Sendwaveen.wikipedia.org

  Product launch

  Sendwave entered Morocco through a partnership with Chaabi Cash, a subsidiary of Banque Centrale Populaire.

• 2022

  Sendwave expanded to Lebanon[1]Sendwaveen.wikipedia.org

  Product launch

  Sendwave entered the Lebanese market, offering digital international transfers to the country.

• 2021

  WorldRemit Group acquired Sendwave[1]Sendwaveen.wikipedia.org

  M&A

  WorldRemit Group acquired Sendwave in a transaction reported at approximately $500 million. Sendwave continued operating as a separate consumer brand after the acquisition.

1. 1Sendwaveen.wikipedia.org