Azimo (Ofer Abarbanel online library)

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

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]

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.[5] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[6]

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[7] 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.[8][9][10]

References

  1. ^“Azimo offers a cheaper way to send money home”. The Washington Post. November 24, 2014. Retrieved 4 May 2016.
  2. ^“Money Transfer Startups: race against time?”. Save on Send. August 29, 2019. Retrieved October 10, 2019.
  3. ^Lunn, Emma; Collinson, Patrick (April 12, 2013). “10 of the best money-saving apps”. The Guardian. Retrieved 4 May 2016.
  4. ^(in Dutch) https://www.fundwijzer.nl/europese-investeringsbank-steunt-uitgeweken-brits-bedrijf-azimo
  5. ^Wall, Matthew (March 23, 2015). “Money may make the world go round, but at what cost?”. BBC News. Retrieved 4 May 2016.
  6. ^PYMNTS (2016-10-20). “Azimo Launches New Version Of Mobile App”. www.pymnts.com. Retrieved 2020-12-22.
  7. ^Ahmed, Murad. “Remittances group Azimo raises $20m on valuation of $100m”. Financial Times. Retrieved 4 May 2016.
  8. ^Kharpal, Arjun (5 May 2016). “Azimo, a remittances start-up, raised $15M from Rakuten to expand into Asia”. CNBC. Retrieved 5 May 2016.
  9. ^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.
  10. ^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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