Zepz, a UK-based global cross-border remittance platform, is reportedly laying off around 200 employees, according to a CNBC report citing two affected staff members.Zepz is reportedly laying off around 200 employeesWhile Zepz did not immediately respond to a request for comment from FinTech Futures, CNBC reports that the company confirmed that an unspecified number of redundancies are being carried out to “sustainably support the next phase of long-term strategic goals and continued growth”.CNBC‘s sources say the job cuts are impacting IT roles such as software engineering, database administration, and development operations.According to CNBC‘s report, a Zepz spokesperson explained that the “successful completion of its replatforming efforts”, enhanced by “advanced automation and AI”, has “reinforced the technology foundation and reduced the need for certain operational and technical capacities”.CNBC reports that it has also seen an internal memo by Zepz CEO Mark Lenhard sent in January that says the company is also “proposing the closure of our Kenya and Poland employing entities”.The news follows Zepz’s $267 million Series F equity round secured last October, which Lenhard said at the time enabled the firm to “channel more capital towards growth and innovation”.Zepz previously implemented job cuts in 2023, reportedly laying off 420 employees as part of “workforce optimisation” plans.
Gio. Feb 13th, 2025
