Azimo B.V. was an online remittance service headquartered in Amsterdam, Netherlands. It also had offices in Kraków, Poland.[1]
 | |
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | 2012 |
| Founders | Michael Kent, Marta Krupinska, Ricky Knox, Marek Wawro |
| Defunct | August 1, 2023[citation needed] |
| Headquarters | Amsterdam , Netherlands |
Area served | Europe (sending); worldwide (receiving) |
Key people | Michael Kent (Founder, EC) Richard Ambrose (CEO) |
| Services | Money transfer |
| Website | azimo.com |
Azimo offered money transfers to 190 receiving countries in over 80 different currencies. The company had half a million customers connected to its platform and offered more than 270,000 cash pick-up locations globally.[2] As of October 2019, sending countries were limited to Europe.
In March 2022, Azimo was acquired by the New York–based payroll and payments solutions provider, Papaya Global,[3] and closed their money transfer services in August 2022.
History
editAzimo was founded in October 2012 in London, United Kingdom.[4] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[5]
As of early 2016, Azimo had raised $31 million in Series A and B funding[6] 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.[7][8][9]
In 2020, Azimo moved to the Netherlands as a result of Brexit.[10][11] Two years later it was acquired by Papaya Global and stopped operating.
Operations
editAzimo offered money transfers to 190 receiving countries in over 80 different currencies. The company had half a million customers connected to its platform and offers more than 270,000 cash pick-up locations globally.[12] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[13]
As of October 2019, sending countries were limited to Europe that are primarily in the EU. The list of sending countries was:
References
edit- ^ "Azimo offers a cheaper way to send money home". The Washington Post. 24 November 2014. Retrieved 4 May 2016.
- ^ Wall, Matthew (23 March 2015). "Money may make the world go round, but at what cost?". BBC News. Retrieved 4 May 2016.
- ^ April 2022, 4th (2022-04-04). "Money transfer app Azimo acquired by Papaya Global". FinTech Futures. Retrieved 2022-04-05.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ Lunn, Emma; Collinson, Patrick (12 April 2013). "10 of the best money-saving apps". The Guardian. Retrieved 4 May 2016.
- ^ "Azimo Launches New Version Of Mobile App". Pymnts.com. 20 October 2016. Retrieved 22 December 2020.
- ^ Ahmed, Murad. "Remittances group Azimo raises $20m on valuation of $100m". Financial Times. Retrieved 4 May 2016.
- ^ Kharpal, Arjun (5 May 2016). "Azimo, a remittances start-up, raised $15M from Rakuten to expand into Asia". CNBC. Retrieved 5 May 2016.
- ^ 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.
- ^ Lunden, Ingrid (5 May 2016). "Remittance startup Azimo raises $15M from Viber owner, e-commerce giant Rakuten". TechCrunch. Retrieved 5 May 2016.
- ^ Betlem, Rutger (4 February 2020). "Europese investeringsbank steunt uitgeweken Brits bedrijf Azimo". Het Financieele Dagblad (in Dutch). Retrieved 2 February 2021.
- ^ Du Pré, Raoul. "Groeiend aantal bedrijven komt wegens brexit naar Nederland". Nederlands Dagblad (in Dutch).
- ^ Wall, Matthew (March 23, 2015). "Money may make the world go round, but at what cost?". BBC News. Retrieved 4 May 2016.
- ^ Ginige, J. A.; Maeder, A. J. (2018-10-18). Transforming Healthcare Through Innovation in Digital Health: Selected Papers from Global Telehealth 2018. IOS Press. ISBN 978-1-61499-914-0.