View source for Company:Azimo

{{short description|Dutch money transfer company}}
{{Infobox company
| name = Azimo
| logo = Azimo-lozenge-tagline-large.png
| logo_size = 250px
| logo_alt = 
| logo_caption = 
| logo_padding = 
| image = 
| image_size = 
| image_alt = 
| image_caption = 
| native_name = 
| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{lang|[code]|[name]}}. -->
| former_name = 
| type = Private company
| industry = [[Finance:Financial technology|Financial technology]]
| founded = 2012
| founders = Michael Kent, Marta Krupinska, Ricky Knox, Marek Wawro
| defunct = {{End date|2023|08|01}}
| hq_location = 
| hq_location_city = Amsterdam
| hq_location_country = Netherlands
| area_served = [[Earth:Europe|Europe]] (sending); <br />worldwide (receiving)
| key_people = Michael Kent (Founder, EC)<br />Richard Ambrose (CEO)
| products = 
| brands = 
| services = [[Finance:Electronic funds transfer|Money transfer]]
| owner = <!-- or: | owners = -->
| ratio = <!-- for BANKS ONLY -->
| rating = <!-- for BANKS ONLY -->
| website = [http://azimo.com/en/ azimo.com]
}}

'''Azimo B.V.''' was an online remittance service headquartered in [[Place:Amsterdam|Amsterdam]], Netherlands. It also had offices in Kraków, Poland.<ref>{{cite news|title=Azimo offers a cheaper way to send money home|url=https://www.washingtonpost.com/posttv/business/azimo-offers-a-cheaper-way-to-send-money-home/2014/11/24/59b3f936-73c8-11e4-95a8-fe0b46e8751a_video.html|newspaper=The Washington Post|access-date=4 May 2016|date=24 November 2014}}</ref>

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.<ref>{{cite web|last1=Wall|first1=Matthew|title=Money may make the world go round, but at what cost?|url=https://www.bbc.co.uk/news/business-31639262|work=BBC News|access-date=4 May 2016|date=23 March 2015}}</ref> As of October 2019, sending countries were limited to [[Earth:Europe|Europe]].

In March 2022, Azimo was acquired by the {{wipe|New York City}}–based payroll and payments solutions provider, Papaya Global,<ref>{{Cite web |last=April 2022 |first=4th |date=2022-04-04 |title=Money transfer app Azimo acquired by Papaya Global |url=https://www.fintechfutures.com/2022/04/money-transfer-app-azimo-acquired-by-payroll-and-payments-firm-papaya-global/ |access-date=2022-04-05 |website=FinTech Futures |language=en-GB}}</ref> and closed their money transfer services in August 2022.

==History==
Azimo was founded in October 2012 in London, United Kingdom.<ref>{{cite web|author1=Lunn, Emma|author2=Collinson, Patrick|title=10 of the best money-saving apps|url=https://www.theguardian.com/money/2013/apr/12/10-best-money-saving-apps|work=The Guardian|access-date=4 May 2016|date=12 April 2013}}</ref> In 2016, an updated version of its app was launched with features including in-app chat and biometric security.<ref>{{Cite web|date=20 October 2016|title=Azimo Launches New Version Of Mobile App|url=https://www.pymnts.com/mobile-applications/2016/azimo-launched-new-mobile-app/|access-date=22 December 2020|website=Pymnts.com|language=en-US}}</ref>

As of early 2016, Azimo had raised $31 million in Series A and B funding<ref>{{cite web|last1=Ahmed|first1=Murad|title=Remittances group Azimo raises $20m on valuation of $100m|url=http://www.ft.com/cms/s/1c34f6b6-0f75-11e5-b968-00144feabdc0,Authorised=false.html?siteedition=uk&_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F1c34f6b6-0f75-11e5-b968-00144feabdc0.html%3Fsiteedition%3Duk&_i_referer=&classification=conditional_standard&iab=barrier-app#axzz43pcp7zWX|publisher=Financial Times|access-date=4 May 2016}}</ref> 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.<ref>{{cite web|last1=Kharpal|first1=Arjun|title=Azimo, a remittances start-up, raised $15M from Rakuten to expand into Asia|url=https://www.cnbc.com/2016/05/05/azimo-a-remittances-start-up-raised-15m-from-rakuten-to-expand-into-asia.html|publisher=CNBC|access-date=5 May 2016|date=5 May 2016}}</ref><ref>{{cite web|last1=Williams-Grut|first1=Oscar|title=International money transfer app Azimo raises $15 million from Japan's Rakuten to crack Asia|url=http://uk.businessinsider.com/azimo-raises-japan-rakuten-asia-2016-5|publisher=Business Insider UK|access-date=5 May 2016|date=5 May 2016}}</ref><ref>{{cite web|last1=Lunden|first1=Ingrid|title=Remittance startup Azimo raises $15M from Viber owner, e-commerce giant Rakuten|url=https://techcrunch.com/2016/05/05/azimo-rakuten/|publisher=TechCrunch|access-date=5 May 2016|date=5 May 2016}}</ref>

In 2020, Azimo moved to the Netherlands as a result of Brexit.<ref>{{cite news|title=Europese investeringsbank steunt uitgeweken Brits bedrijf Azimo|newspaper=Het Financieele Dagblad|language=nl|first=Rutger|last=Betlem|date=4 February 2020|access-date=2 February 2021|url=https://fd.nl/beurs/1333321/europese-investeringsbank-steunt-uitgeweken-brits-bedrijf-azimo}}</ref><ref>{{cite news|url=https://www.nd.nl/nieuws/nederland/535047/groeiend-aantal-bedrijven-komt-wegens-brexit-naar-nederland|title=Groeiend aantal bedrijven komt wegens brexit naar Nederland|language=nl|newspaper=Nederlands Dagblad|first=Raoul|last=Du Pré}}</ref> Two years later it was acquired by Papaya Global and stopped operating.

==Operations==
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 offers more than 270,000 cash pick-up locations globally.<ref>{{cite web|last1=Wall|first1=Matthew|title=Money may make the world go round, but at what cost?|url=https://www.bbc.co.uk/news/business-31639262|publisher=BBC News|accessdate=4 May 2016|date=March 23, 2015}}</ref> In 2016, an updated version of its app was launched with features including in-app chat and biometric security.<ref>{{Cite book |last1=Ginige |first1=J. A. |url=https://books.google.com/books?id=irh9DwAAQBAJ&dq=In+2016,+an+updated+version+of+its+app+was+launched+with+features+including+in-app+chat+and+biometric+security.&pg=PA59 |title=Transforming Healthcare Through Innovation in Digital Health: Selected Papers from Global Telehealth 2018 |last2=Maeder |first2=A. J. |date=2018-10-18 |publisher=IOS Press |isbn=978-1-61499-914-0 |language=en}}</ref>

As of October 2019, sending countries were limited to [[Earth:Europe|Europe]] that are primarily in the [[Social:European Union|EU]]. The list of sending countries is:
{{div col|colwidth=22em}}
*{{flag|Austria}}
*{{flag|Belgium}}
*{{flag|Cyprus}}
*{{flag|Denmark}}
*{{flag|Estonia}}
*{{flag|Finland}}
*{{flag|France}}
*{{flag|Germany}}
*{{flag|Greece}}
*{{flag|Ireland}}
*{{flag|Italy}}
*{{flag|Latvia}}
*{{flag|Lithuania}}
*{{flag|Luxembourg}}
*{{flag|Malta}}
*{{flag|Netherlands}}
*{{flag|Norway}}
*{{flag|Poland}}
*{{flag|Portugal}}
*{{flag|Slovakia}}
*{{flag|Slovenia}}
*{{flag|Spain}}
*{{flag|Sweden}}
*{{flag|Switzerland}}
*{{flag|United Kingdom}}
{{div col end}}

==References==
{{Reflist}}

{{Online remittance}}

[[Category:Online remittance providers]]
[[Category:Financial technology companies]]
[[Category:Companies (Finance)]]
[[Category:Companies]]

{{Sourceattribution|Azimo}}