Mark Lenhard, Executive Director of the remittance platform based in the UK ZEPZ.
Lukas Schulze | Sportsfile for Web Summit via Getty Images
London – The British Digital Recovery Company releases a dozen IT workers and is in the process of closing business units in Poland and Kenya.
The 200 members of the staff will influence the excess of coherence, two employees who have become superfluous told CNBC, seeking to remain anonymous for the sensitivity of things.
Since January, Zepz based in London-Ranija known as Worldremit-I have a global number of 1,000 people, which means that coating affects about 20% of its total workforce.
The release affects several IT functions in the company, including administration of database, developmental operations and software engineering, former employees said.
ZEPZ has confirmed to CNBC to reduce the number number to “sustain the next phase of long-term strategic goals and continuous growth.” The company refused to comment on the number of employees who influenced the release, and the spokesman explained that the process of coherentness was ongoing.
“After the successful completion of his efforts to replace, reinforced with advanced automation and AI, ZEPZ began the strategic initiative to optimize surgery throughout the organization,” said Zepz spokesman.
“This transformation strengthened the technological foundation and reduced the need for certain operating and technical capacities, which prompted the proposed decrease in roles as part of the entire plan,” the spokesman added.
Zepz was advertised as one of the British fintech dear ones. The company was founded by Ismail Ahmed, a British entrepreneur born in Somalia, who escaped from the country during the Somalian Civil War. Ahmed serves as an unspoken president of the company today.
The group was renamed ZEPZ after acquiring a salary of Sandwave in 2020, and the brand and Worldremit came under a home company.
‘A difficult choice’
CNBC received a memorandum about the company by announcing the reduction of cost reduction in January in internally shared by Zepz CEO Mark Lenhard.
“Today we announce a very difficult decision – the proposed reduction of our team in all HQ functions, and most of the regions. And we especially suggest closing our Kenya and Poland who employ subjects,” Lenhard said in the memoranda.
Zepz is cited as a “remote employer”, with regional offices in Kenya and Poland.
“This is a difficult choice, which affects the lives of our colleagues and friends. This is also a choice that is crucial for the success of our mission to serve immigrants everywhere. Both are true, at the same time,” Lenhard said.
“To be clear, this is not a change of strategy. We double our mission in an effort to expand our impact faster,” he added. “In some places, this will mean that we will have to continue the ruthless priority. In others we will become more effective. In many cases, this will include this reviewing the way we do things today.”
Zepza spokesman insisted that IT workers “will not affect customers in any region or market”, adding that the company “remains dedicated to its mission to serving migrants around the world, launching innovation and providing meaningful financial solutions to millins globally.”
This is not the first time Zepz has reduced a number of roles to save on costs. 2021., Zepz fired 420 employeeswhich at the time did about 26% of their global number. Later that year Zepz reduced another 30 roles through their people and marketing functions.
Zepz has long been advertised as a potential and candidate, but the weather line is not clear. Counting like Accela, TCV -Ai Leapfrog, as an investor, was estimated at $ 5 billion in 2021 in 2021. The company announced a $ 267 million funding circle last year.
Zepz faces the competition of several notable players of digital payments including Paypal,, WiseRevutut and retitly.
