Azimo

Azimo B.V. was an online remittance service headquartered in Amsterdam, Netherlands. It also had offices in Kraków, Poland.[1]

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.[3][4]

In March 2022, Azimo was acquired by the New York–based payroll and payments solutions provider, Papaya Global, incorporating its licensed payment services to support global transactions.[5]

History

Azimo was founded in October 2012 in London, United Kingdom,[6] and initially operated as a direct-to-consumer money transfer service, allowing customers to send money across borders.[7]

In 2012 and 2015, Azimo raised significant funding, including $31 million in Series A and B funding from investors including Frog Capital, Greycroft, MCI.TechVentures, e.ventures, and Quona Capital.[8][9][10]

In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[11]

As of early 2016, Azimo had raised $31 million in Series A and B funding[12] 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.[13][14][15]

In 2020, Azimo moved to the Netherlands as a result of Brexit,[16][17] while its development office was in Kraków, Poland.[18][19]

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.[25] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.[26]

As of October 2019, sending countries were limited to Europe that are primarily in the EU. The list of sending countries was:

As part of Papaya Global, Azimo now provides the regulatory and technical infrastructure for workforce-related payments. The company holds licenses in five top-tier jurisdictions, including the UK and European Economic Area (EEA), enabling Papaya Global to offer compliant payment services across multiple territories.[27][28]

Following the acquisition of Azimo, Papaya Global integrated Azimo's payment infrastructure and licenses to create a comprehensive global workforce payments solution. This integration enabled Papaya Global to become a payment solution specifically designed for workforce-related payments including net salaries, contractor payments, local tax authorities, vendors, etc.[29][30]

• 🇦🇹 Austria
• 🇧🇪 Belgium
• 🇨🇾 Cyprus
• 🇩🇰 Denmark
• 🇪🇪 Estonia
• 🇫🇮 Finland
• 🇫🇷 France
• 🇩🇪 Germany
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• 🇮🇪 Ireland
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• 🇱🇻 Latvia
• 🇱🇹 Lithuania
• 🇱🇺 Luxembourg
• 🇲🇹 Malta
• 🇳🇱 Netherlands
• 🇳🇴 Norway
• 🇵🇱 Poland
• 🇵🇹 Portugal
• 🇸🇰 Slovakia
• 🇸🇮 Slovenia
• 🇪🇸 Spain
• 🇸🇪 Sweden
• 🇨🇭 Switzerland
• 🇬🇧 United Kingdom