TechCrunch March 12, 2014
More evidence that the online money transfer space is heating up significantly, as startups aim to disrupt the banks and incumbents such as Western Union. Money transfer startup Azimo has closed a $10 million series A round.
The new funding, which follows a $1 million seed round late last year, is being led by Greycroft Partners, with participation from Accion’s Frontier Investments Group, eVentures (who led Azimo’s seed round), TA Ventures, RI Digital Ventures, and KRW Schindler Investments.
The UK company says it will use the funds to accelerate European expansion and target other key markets in North America and Asia. Meanwhile, Kamran Ansari from Greycroft Partners, and Monica Brand, Managing Director for Accion’s Frontier Investments Group, will join Azimo’s board.
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Azimo Raises $10M Series A Led By Greycroft Partners To Expand Money Transfer Service
