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MIAMI - International Money Express, Inc. (NASDAQ:IMXI), a $430 million market cap fintech company with over $642 million in annual revenue, announced Tuesday a strategic partnership with African fintech company Zeepay to extend its money remittance services to African communities living abroad. According to InvestingPro data, the company maintains strong financial health with robust profitability metrics.
The collaboration will utilize Intermex’s Wire-as-a-Service platform to facilitate money transfers across Africa, beginning with service to Africans residing in the United States. The partnership will later expand to Zeepay’s retail stores in the U.S. and digital channels serving Africans in Europe. The company’s solid current ratio of 1.63 indicates strong operational capacity to support this expansion.
"This partnership with Zeepay is another milestone in our mission to expand Intermex’s global footprint and deliver world-class services to Africans living in the United States and Europe," said Marcelo Theodoro, Chief Product, Marketing and Digital Officer at Intermex.
As part of the arrangement, Zeepay will lead Intermex’s Africa business in partnership with the brand. The collaboration combines Intermex’s technology with Zeepay’s regional network in Africa.
Andrew Takyi-Appiah, Director at Zeepay, stated that the partnership will "connect families, empower businesses, and advance financial inclusion" through an omnichannel platform combining digital and in-person experiences.
Intermex, founded in 1994, currently enables consumers to send money from the United States, Canada, and several European countries to more than 60 countries worldwide. Zeepay is a Ghanaian-owned fintech regulated by the Bank of Ghana and the UK Financial Conduct Authority.
The partnership represents another step in Intermex’s global diversification strategy, according to the company’s press release statement. InvestingPro analysis suggests the stock is currently undervalued, with additional ProTips and detailed financial metrics available for subscribers. For comprehensive insights into IMXI and other financial companies, access the full Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.
In other recent news, Western Union announced its plan to acquire International Money Express in an all-cash transaction valued at approximately $500 million. This acquisition, priced at $16.00 per share, is expected to close by mid-2026, pending regulatory and stockholder approvals. The deal is part of Western Union’s strategy to bolster its retail presence in North America and enhance its market coverage in Latin America. Following this announcement, Northland downgraded International Money Express from Outperform to Market Perform. The downgrade aligns with the acquisition offer set by Western Union at $16.00 per share. These developments reflect significant strategic moves by both companies in the financial services sector.
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