About Azimo
Azimo is a company based in London (United Kingdom) founded in 2012 was acquired by Papaya Global in March 2022.. Azimo has raised $68.82 million across 8 funding rounds from investors including SVB, Papaya Global and Accion. The company has 164 employees as of June 30, 2020. Azimo operates in a competitive market with competitors including Remitly, Euronet Worldwide, Xoom, BookMyForex and OFX, among others.
- Headquarter London, United Kingdom
- Employees 164 as on 30 Jun, 2020
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Azimo Ltd
- Date of Incorporation 03 Jan, 2012
- Jurisdiction LONDON, UNITED KINGDOM
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Annual Revenue
$37.09 M (USD)41as on Jun 30, 2020
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Net Profit
$-7.27 M (USD)-41as on Jun 30, 2020
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EBITDA
$-8.05 M (USD)-45as on Jun 30, 2020
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Total Equity Funding
$68.82 M (USD)
in 8 rounds
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Latest Funding Round
$22.14 M (USD), Debt – Venture
Feb 04, 2020
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Investors
SVB
& 15 more
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Employee Count
164
as on Jun 30, 2020
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Acquired by
Papaya Global
(Mar 28, 2022)
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Product Management Team
17 people
Leadership Team
14 people
Legal and Compliance
11 people
Senior Team
6 people
Finance and Accounting
5 people
Human Resources and Administration
5 people
Data Analysis and Operations Team
4 people
Head Team
4 people
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Funding Insights of Azimo
Azimo has successfully raised a total of $68.82M across 8 strategic funding rounds. The most recent funding activity was a Debt – Venture round of $22.14 million completed in February 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Debt – Venture — $22.1M
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First Round
First Round
(30 Oct 2012)
- Investors Count 15
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2020 | Amount | Debt – Venture - Azimo | Valuation |
investors |
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| Jan, 2018 | Amount | Series C - Azimo | Valuation | Rakuten Capital | |
| Apr, 2016 | Amount | Series C - Azimo | Valuation | Rakuten Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Azimo
Azimo has secured backing from 16 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include SVB, Papaya Global and Accion. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Finance and advisory services for infrastructure projects are provided.
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Founded Year | Domain | Location | |
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Venture capital firm investing in European software scale-up companies
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Founded Year | Domain | Location | |
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Multiple sectors are targeted for venture capital investments by Greycroft.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Azimo
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Azimo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Azimo Comparisons
Competitors of Azimo
Azimo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Remitly, Euronet Worldwide, Xoom, BookMyForex and OFX, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border money transfers are facilitated via banking networks.
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| domain | founded_year | HQ Location |
Electronic payments and transaction processing solutions are offered globally.
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| domain | founded_year | HQ Location |
Cross-border money transfers are enabled via banking channels.
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| domain | founded_year | HQ Location |
Online foreign exchange and remittance services are facilitated in India.
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| domain | founded_year | HQ Location |
International money transfer service provider.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Azimo
Frequently Asked Questions about Azimo
When was Azimo founded?
Azimo was founded in 2012.
Where is Azimo located?
Azimo is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Azimo?
Richard John Ambrose is the current CEO of Azimo.
Is Azimo a funded company?
Azimo is a funded company, having raised a total of $68.82M across 8 funding rounds to date. The company's 1st funding round was a Series C of $15.2M, raised on Oct 30, 2012.
How many employees does Azimo have?
As of Jun 30, 2020, the latest employee count at Azimo is 164.
What is the annual revenue of Azimo?
Annual revenue of Azimo is $37.09M as on Jun 30, 2020.
What does Azimo do?
Azimo was founded in 2012 in London, United Kingdom, operating in the fintech sector focused on international remittances. Services include access to pricing lists, transaction tracking, and fund transfers using debit or credit cards. Options for donating portions of transfers to charities in developing countries are provided, alongside news articles and blogs for user support. Operations center on secure, efficient cross-border payments.
Who are the top competitors of Azimo?
Azimo's top competitors include Euronet Worldwide, NALA and BookMyForex.
Who are Azimo's investors?
Azimo has 16 investors. Key investors include SVB, Papaya Global, Accion, European Investment Bank, and Quona.
What is Azimo's valuation?
The valuation of Azimo is $135.14M as of Jan 2018.
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