Azimo is a technology company.
Azimo has raised $66.0M across 5 funding rounds.
Key people at Azimo.
Azimo has raised $66.0M in total across 5 funding rounds.
Azimo has raised $66.0M in total across 5 funding rounds.
Azimo's investors include Amplify.LA, Bessemer Venture Partners, BoxGroup, Fifth Wall, Headline (formerly e.ventures), Menlo Ventures, Quona Capital, RRE Ventures, Walden Catalyst Ventures, WGI Group, Noah Goodhart, Troy Carter.
Key people at Azimo.
Azimo is a fintech company specializing in online and smartphone-based international money transfers, offering a fast, secure, and low-cost alternative to traditional remittance services. It serves individuals and small businesses primarily in Europe, enabling them to send money to over 200 countries in more than 80 currencies through a mobile-first platform with multiple payout options such as bank deposits, cash pickups, mobile wallets, and home delivery. Azimo addresses the high fees, slow speeds, and complexity of legacy remittance systems, promoting financial inclusion by making cross-border payments affordable and accessible. The company demonstrated strong growth, reaching over 1.1 million customers before being acquired in 2022 by Papaya Global, a global payroll and payments provider[1][2][4][5].
Azimo was founded in 2012 in London by a team focused on leveraging technology to disrupt the traditional remittance market. The idea emerged from recognizing the inefficiencies and high costs faced by migrant workers sending money home. Early traction included rapid customer adoption and significant funding rounds totaling $31 million from investors such as Frog Capital and Rakuten, which helped expand its reach into Asia and Europe. The company also established a research and development center in Kraków, Poland, and moved its headquarters to the Netherlands in 2020 due to Brexit. A pivotal moment was the launch of an updated app in 2016 featuring biometric security and in-app chat, enhancing user experience and trust[1][3][4].
Azimo rides the global trend of digital financial inclusion and the digitization of remittances, a market historically dominated by manual, expensive, and slow processes. The timing is critical as migrant worker populations grow and demand for faster, cheaper, and safer cross-border payments increases. Market forces such as smartphone penetration, regulatory modernization, and the rise of global gig and remote work further favor Azimo’s digital-first approach. By integrating with Papaya Global, Azimo extends its influence beyond consumer remittances into the broader global workforce payments ecosystem, helping to streamline international payroll and compliance[1][5].
Following its acquisition by Papaya Global in 2022, Azimo is positioned to evolve from a consumer-focused remittance app into a key component of a comprehensive global payments platform for workforce management. Future trends shaping its journey include continued growth in cross-border labor mobility, increasing regulatory scrutiny, and demand for seamless, real-time payments. Azimo’s technology and compliance expertise will likely drive innovation in global payroll and payments, expanding its impact on the fintech ecosystem and further democratizing access to financial services worldwide[5].
This trajectory reflects Azimo’s original mission to improve millions of lives by making international money transfers more accessible, affordable, and technologically advanced.
Azimo has raised $66.0M across 5 funding rounds. Most recently, it raised $20.0M Series C in May 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2018 | $20.0M Series C | Amplify.LA, Bessemer Venture Partners, BoxGroup, Fifth Wall, Headline (formerly e.ventures), Menlo Ventures, Quona Capital, RRE Ventures, Walden Catalyst Ventures, WGI Group, Noah Goodhart, Troy Carter | |
| May 1, 2016 | $15.0M Venture Round | Headline (formerly e.ventures), Walden Catalyst Ventures | |
| Jun 1, 2015 | $20.0M Series B | Amplify.LA, Bessemer Venture Partners, BoxGroup, Fifth Wall, Headline (formerly e.ventures), Menlo Ventures, RRE Ventures, Walden Catalyst Ventures, WGI Group, Noah Goodhart, Troy Carter | |
| Mar 1, 2014 | $10.0M Series A | Amplify.LA, Bessemer Venture Partners, BoxGroup, Fifth Wall, Headline (formerly e.ventures), Menlo Ventures, Quona Capital, RRE Ventures, Walden Catalyst Ventures, WGI Group, Noah Goodhart, Troy Carter | |
| Sep 1, 2013 | $1.0M Seed | Headline (formerly e.ventures), Walden Catalyst Ventures |
