Azimo

This article is about the remittance service. For the robot, see Asimo.
Azimo
Private company
Industry Financial technology
Founded 2012
Founders Michael Kent, Marta Krupinska, Ricky Knox, Marek Wawro
Headquarters London, United Kingdom
Area served
 Worldwide
Key people

Michael Kent (Founder, CEO)

Marta Krupinska (Co-founder, General Manager)
Services Money transfer
Website azimo.com

Azimo is an online remittance service.[1] with headquarters in London and offices in Krakow. 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.[2] 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.[3] In 2016, an updated version of its app was launched with features including in-app chat and biometric security.

Azimo Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900220) for the issuing of electronic money.[4] Azimo is licensed and regulated by HMRC as a Money Services Business - License Number 12676497.

History

Jan 2012: founded
Sep 2012: First transaction sent
Oct 2012: First external investment
Nov 2012: First employee hired
Dec 2013: Launch of Krakow 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, Comply Advantage and Logical Glue. In 2013, he initiated the industry and NGO World Money Transfer Day,[5] which has since been adopted by the World Bank Group and United Nations. He also blogs on global remittance reality for the World Bank.[6]

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[7] and rated ninth in Business Insider’s list of the 40 Coolest People in FinTech[8]

Investors

As of early 2016, Azimo had raised $31 million in Series A and B funding[9] 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.[10][11][12]

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,[13] 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[14]
2016: Best Low Cost Remittance Service, Kalahari Awards[15]

References

  1. ↑ "Azimo offers a cheaper way to send money home". The Washington Post. November 24, 2014. Retrieved 4 May 2016.
  2. ↑ Lunn, Emma; Collinson, Patrick (April 12, 2013). "10 of the best money-saving apps". The Guardian. Retrieved 4 May 2016.
  3. ↑ Wall, Matthew (March 23, 2015). "Money may make the world go round, but at what cost?". BBC News. Retrieved 4 May 2016.
  4. ↑ "The Financial Services Register". Financial Conduct Authority. 3 February 2015. Retrieved 4 May 2016.
  5. ↑ "Azimo Announces Zero Fees for World Money Transfer Day". Reuters. Retrieved 4 May 2016.
  6. ↑ Kent, Michael (11 November 2015). "Remittance reality: Getting to 3% and beyond". World Bank Group. Retrieved 4 May 2016.
  7. ↑ Bertoni, Steven (18 January 2016). "30 Under 30 Europe Finance 2016: The Best Investors, Traders And Innovators". Forbes. Retrieved 4 May 2016.
  8. ↑ Williams-Grut, Oscar; Kocianski, Sarah; Shead, Sam (27 April 2016). "The 40 coolest people in UK fintech". Business Insider UK. Retrieved 4 May 2016.
  9. ↑ Ahmed, Murad. "Remittances group Azimo raises $20m on valuation of $100m". Financial Times. Retrieved 4 May 2016.
  10. ↑ Kharpal, Arjun (5 May 2016). "Azimo, a remittances start-up, raised $15M from Rakuten to expand into Asia". CNBC. Retrieved 5 May 2016.
  11. ↑ Williams-Grut, Oscar (5 May 2016). "International money transfer app Azimo raises $15 million from Japan's Rakuten to crack Asia". Business Insider UK. Retrieved 5 May 2016.
  12. ↑ Lunden, Ingrid (5 May 2016). "Remittance startup Azimo raises $15M from Viber owner, e-commerce giant Rakuten". TechCrunch. Retrieved 5 May 2016.
  13. ↑ "Azimo Supports Sierra Leone With Lower Money Transfer Fees Campaign". Fintech Finance. Retrieved 4 May 2016.
  14. ↑ Vyas, Shekha (16 August 2015). "Tech City: Digital money transfer service helping migrants". Hackney Gazette. Retrieved 4 May 2016.
  15. ↑ Kelven, Udoh N. (17 February 2016). "Winners of 2016 Kalahari Awards announced". TechLoy. Retrieved 4 May 2016.
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