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Azimo

Azimo

Azimo is an online remittance service founded by Marta Krupinska.

Launched in October 2012 with the mission to make international money transfer cheaper, faster, simpler and easier to understand, Azimo was voted Best Money-saving App by the Guardian. The company was co-founded by Michael Kent, Marta Krupinska, Ricky Knox and Marek Wawro.

Customers are able to transfer money via the Azimo website or smartphone app to more than 190 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.

In 2017, Azimo co-founder and general manager Marta Krupinska hosted the Duke and Duchess of Cambridge on their tour to Poland at a prestigious event held by the British Embassy in Poland, showcasing Britain's vibrant Polish diaspora and young Polish entrepreneurs. Azimo was chosen to host as an example of a successful and innovative cross-border FinTech business.

Azimo Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900220) for the issuing of electronic money. Azimo is licensed and regulated by HMRC as a Money Services Business - Licence Number 12676497. In July 2018, Azimo added ten new countries to its customer services in Nordic countries.

History

Jan 2012: founded

Sep 2012: First transaction sent

Oct 2012: First external investment

Nov 2012: First employee hired

Dec 2013: Launch of Kraków office

Co-founders

CEO Michael Kent previously founded the Small World Financial Services Group in 2005, growing the company to become Europe’s largest offline money transfer provider. He is also co-founder of digital bank Tandem and has invested in and advised multiple UK FinTech businesses, including CorporatePay (now WEX Europe), Yoyo Wallet, Curve, ComplyAdvantage and Logical Glue. In 2013, he initiated the industry and NGO World Money Transfer Day, which has since been adopted by the World Bank Group and United Nations. He also blogs on global remittance reality for the World Bank.General Manager Marta Krupinska previously founded Travelnity, a social media website for travellers and expats. In 2016, she was recognised by Forbes as one of Europe’s 30 Under 30 for Finance and rated ninth in Business Insider’s list of the 40 Coolest People in FinTech

Investors

As of early 2016, Azimo had raised $31 million in Series A and B funding from investors including Frog Capital, Greycroft, MCL Partners, e.ventures and Quona Capital. In May 2016, Japanese e-commerce company Rakuten invested in Azimo to accelerate the company’s expansion into Asia.

Charity partners

Azimo offers all customers the chance to donate a portion of the money they save to charity. The company is also committed to donating 10% of its annual profits to its chosen charities, Operation Smile and ActionAid, and every member of staff is given a free day every quarter to allow them to get involved with work in their local community.

Awards

2013: Best Money-saving App, The Guardian

2013: Best Startup, PayExpo

2015: Recognised by the UN as one of the most comprehensive and best value money transfer companies in UK and Germany

2016: Best Low Cost Remittance Service, Kalahari Awards

Timeline

April 2, 2020
Azimo partners with Thailand’s Siam Commercial Bank (SCB) to deliver instant payments for its customers from Europe to SCB bank accounts in Thailand.
June 2018
Azimo raises a $20,000,000 series C round from E.ventures, Frog Capital, GR Capital, Greycroft, MCI, Quona Capital, Rakuten Capital and Silicon Valley Bank.
March 2014
Azimo raises a $10,000,000 series A round from E.ventures, Frontier Investments Group, Greycroft, KRW Schindler Investments, RI Digital Ventures and TA Ventures.
September 29, 2013
Azimo raises a $1,000,000 seed round from Matt Cooper.

Funding Rounds

Patents

Further Resources

Title
Author
Link
Type
Date

News

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Title
Author
Date
Publisher
Description
Michael Kent
October 5, 2021
ComputerWeekly.com
Fintech entrepreneur Michael Kent explains why Britain needs migrants and why government policy and media horror stories will damage the UK's economy and reputation
Karl Flinders
May 18, 2021
ComputerWeekly.com
Global remittance volumes and value was more resilient than expected over the past year, partly as a result of the take-up of fintech services
Callum Burroughs
February 13, 2021
Business Insider
"The World Bank said remittances will drop from Covid and would disproportionately impact on immigrants and yet people are sending money home still and digitally."
Andrii Degeler
November 17, 2020
Tech.eu
In this episode, Tech.eu's founding editor Robin Wauters talked to Tara Reeves, partner at OMERS Ventures Europe, and Michael Kent, CEO of Azimo and co-founder of Tandem Bank.
JD Alois
June 16, 2020
Crowdfund Insider
Click HERE to find out ⭐ Global Money Transfer Provider Azimo Offers Zero Fee Remittances for Migrant Workers. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
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References

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