Azimo

Azimo is an online remittance service headquartered in Amsterdam, Netherlands, with offices in Kraków, Poland.[1] Its primary competitors include the fintech startups WorldRemit and Remitly.[2]

Azimo
TypePrivate company
IndustryFinancial technology
Founded2012
FoundersMichael Kent, Marta Krupinska, Ricky Knox, Marek Wawro
Headquarters
Amsterdam
,
Netherlands
Area served
Europe (sending);
worldwide (receiving)
Key people
Michael Kent (Founder, EC)
Richard Ambrose (CEO)
ServicesMoney transfer
Number of employees
90 (2016) 
Websiteazimo.com

History

Azimo was founded in October 2012 in London, United Kingdom.[3] Its co-founders were Michael Kent, Marta Krupinska, Ricky Knox, and Marek Wawro. CEO Michael Kent had also founded the Small World Financial Services Group in 2005, which is now a major European money transfer provider.

Azimo moved to the Netherlands due to the Brexit.[4][5]

Operations

Azimo offers money transfers to 190 receiving countries in over 80 different currencies. The company has half a million customers connected to its platform and offers more than 270,000 cash pick-up locations globally.[6] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[7]

As of October 2019, sending countries are limited to Europe.

Funding

As of early 2016, Azimo had raised $31 million in Series A and B funding[8] from investors including Frog Capital, Greycroft, MCI.TechVentures, e.ventures and Quona Capital. In May 2016, Japanese e-commerce company Rakuten invested in Azimo to accelerate the company's expansion into Asia.[9][10][11]

References
  1. "Azimo offers a cheaper way to send money home". The Washington Post. 24 November 2014. Retrieved 4 May 2016.
  2. "Money Transfer Startups: race against time?". Save on Send. 29 August 2019. Retrieved 10 October 2019.
  3. Lunn, Emma; Collinson, Patrick (12 April 2013). "10 of the best money-saving apps". The Guardian. Retrieved 4 May 2016.
  4. Betlem, Rutger (4 February 2020). "Europese investeringsbank steunt uitgeweken Brits bedrijf Azimo". Het Financieele Dagblad (in Dutch). Retrieved 2 February 2021.
  5. Du Pré, Raoul. "Groeiend aantal bedrijven komt wegens brexit naar Nederland". Nederlands Dagblad (in Dutch).
  6. Wall, Matthew (23 March 2015). "Money may make the world go round, but at what cost?". BBC News. Retrieved 4 May 2016.
  7. "Azimo Launches New Version Of Mobile App". Pymnts.com. 20 October 2016. Retrieved 22 December 2020.
  8. Ahmed, Murad. "Remittances group Azimo raises $20m on valuation of $100m". Financial Times. Retrieved 4 May 2016.
  9. Kharpal, Arjun (5 May 2016). "Azimo, a remittances start-up, raised $15M from Rakuten to expand into Asia". CNBC. Retrieved 5 May 2016.
  10. Williams-Grut, Oscar (5 May 2016). "International money transfer app Azimo raises $15 million from Japan's Rakuten to crack Asia". Business Insider UK. Retrieved 5 May 2016.
  11. Lunden, Ingrid (5 May 2016). "Remittance startup Azimo raises $15M from Viber owner, e-commerce giant Rakuten". TechCrunch. Retrieved 5 May 2016.
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