The platform allows users to choose from a few delivery methods, so they are able to send the way that suits them with the same quick, safe delivery with low, transparent fees.
“We’re excited to strengthen further our relationship with Rakuten Capital. This financing will be used to make our service even better and to sustain the rapid growth in our customer base. We’re keeping our focus primarily on Europe – the largest, most diverse and chronically underserved money transfer market in the world,” Azimo’s CEO Michael Kent said.
In 2014, Azimo
launched in Kenya to allow users its users in Europe to send cash to M-Pesa’s 19 million subscribers. The new deal will see residents of the UK and Eurozone, including Italy, Ireland and Germany send cash directly to their friends and family’s M-PESA wallets instantly or to participating ATMs. During launch, Kent said Azimo was delighted to be working with M-PESA to expand the firm’s global money transfer network because Africa has long been at the forefront of mobile money.
In 2015, Azimo opened its doors
to recipients in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Tog in West African CFA francs for instant cash pick-up from senders across Europe. During launch, Michael Kent, CEO of Azimo
, said: “Together these 8 countries have a combined population of over 100 million people and GDP of US$80bn. The World Bank estimates that nearly $3bn was remitted to the region in 2012, and with more and more African migrants moving to European countries including France, Belgium, the UK and The Netherlands, the new Azimo service means more money in the hands of their families and communities back home in West Africa.”
The service is available across the UK and Eurozone, including France, Ireland and Germany. Funds are delivered for instant cash pick-up at locations across the region while transfers direct to bank account arrive within 24 hours.