Azimo is an online remittance service headquartered in Amsterdam, The Netherlands, with offices in Kraków, Poland. Its primary competitors include the fintech startups WorldRemit and Remitly.
Azimo was founded in October 2012 in London, United Kingdom. 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.
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. In 2016, an updated version of its app was launched with features including in-app chat and biometric security.
As of October 2019, sending countries are limited to Europe.
As of early 2016, Azimo had raised $31 million in Series A and B funding 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.
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- ^(in Dutch) https://www.fundwijzer.nl/europese-investeringsbank-steunt-uitgeweken-brits-bedrijf-azimo
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- ^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.
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- ^Lunden, Ingrid (5 May 2016). “Remittance startup Azimo raises $15M from Viber owner, e-commerce giant Rakuten”. TechCrunch. Retrieved 5 May 2016.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.