Azimo adds ten countries for Nordic users
For international remittance platform Azimo, the world just became a bit more flat. That’s because the UK-based company recently expanded its services to allow customers to send money to ten more countries, reports Julie Muhn at Finovate.
Azimo users in Denmark, Norway, and Sweden can now send funds to bank accounts in Thailand, Vietnam, Hong Kong, Singapore, Australia, New Zealand, Romania, Bulgaria, Croatia, and Hungary. Other recently-added countries include the Philippines, Nigeria, China, and Poland.
The Nordic region is a strategic focus for Azimo. The purpose of the company’s recent $20 million in funding round from Rakuten Capital was to fuel Azimo’s growth in Nordic countries as well as in the broader European region.
And the demand can be seen in the metrics – the number and volume of transfers from Denmark, Norway, and Sweden have increased by more than 150% in the last year.
Founded in 2012, Azimo has raised a total of $66 million.
The company debuted its global money transfer platform in 2013 in London. The platform allows users to send money in the recipients’ local currency directly to their bank account. Last year, the company reported triple-digit growth.