AZIMO

azimo.com

t: @Azimo

CEO: Michael Kent

Founder(s):  Michael Kent, Marta Krupinska

Founded: 2012

Sector: Money transfer

Total Funding: $66M

Latest funding: $20M Series C May 2018

Lead Investor: Rakuten Capital

HQ: London, UK

Launched in October 2012, London-based Azimo is an online social money transfer service. it enables customers to send money to any bank account, to a mobile wallet (MPESA) or to over 270,000 cash pick-up points around the world. In May 2016, it was the first money transfer operator to enable money transfers worldwide via Facebook Messenger.  

In May 2018, Azimo closed a $20 million Series C investment round led by Japan's Rakuten Capital, the investment arm of Rakuten Inc. with e.ventures, Frog Capital, GR Capital Partners, Greycroft Partners, MCI, Quona Capital and Silicon Valley Bank also participating.

In July 2018, Azimo added 10 new countries to its service for customers in Nordic countries. Customers in Denmark, Norway and Sweden are now able to send money to individual bank accounts in Thailand, Vietnam, Hong Kong, Singapore, Australia, New Zealand, Romania, Bulgaria, Croatia and Hungary. The new service delivers transfers to recipients’ bank accounts in local currency. With low rates, fast delivery times, and 100% coverage for all bank accounts, Azimo’s service to these 10 new countries is now the best in the market.

In August 2018, Azimo announced a strategic partnership with African payments business Interswitch Group to further enable instant money transfers from 23 countries in Europe to any customer in Nigeria- Azimo’s biggest market.