Emerging Trends and Challenges
FTPartnersResearch-GlobalMoneyTransferTrends
FTPartnersResearch-GlobalMoneyTransferTrends
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“<strong>Emerging</strong> Consumer Remittance Providers”<br />
Selected Company Profiles (cont.)<br />
Company Overview<br />
Products & Services Overview<br />
3-Step Payment Process<br />
CEO:<br />
Headquarters:<br />
Michael Kent<br />
London, Engl<strong>and</strong><br />
Founded: 2004<br />
• Azimo is a London-based global payment processing start-up<br />
that provides internet <strong>and</strong> mobile based inter-country money<br />
transfer services; the Company commits to donating 10% of<br />
its annual profits to charity<br />
• The Company serves customers in over 190+ countries,<br />
offering them with convenient ways to pay with fair <strong>and</strong><br />
transparent pricing<br />
• Azimo collects funds via WorldPay <strong>and</strong> sends funds via The<br />
Currency Cloud<br />
• The most recent $20 mm funding round in June 2015 will be<br />
used to accelerate European expansion <strong>and</strong> target other key<br />
markets in North America <strong>and</strong> Asia<br />
Transaction History<br />
Date $ mm Type Acquirer / Investor (s)<br />
06/15/15 $20 Financing<br />
03/11/14 10 Financing<br />
Frog Capital; e.ventures;<br />
Greycroft Partners; MCI<br />
Greycroft Partners; Frontier<br />
Investments; RI Digital;<br />
e.ventures; TA Venture; KRW<br />
Schindler<br />
09/29/13 1 Financing BlueYield<br />
Set Up<br />
• Enter in payment<br />
details including<br />
payment type<br />
(P2P or P2B)<br />
<strong>and</strong> destination<br />
• Quick <strong>and</strong> simple<br />
registration on<br />
either Azimo’s<br />
mobile app or<br />
Azimo’s website<br />
• All sensitive<br />
account<br />
information is<br />
kept in-house<br />
Enter Payment<br />
Amount<br />
• Clients enter in<br />
the amount for<br />
payment <strong>and</strong><br />
how they plan to<br />
send the<br />
payment<br />
• Azimo’s solution<br />
can deliver<br />
payments to over<br />
200k cash<br />
collection<br />
locations, any<br />
bank account,<br />
<strong>and</strong> other<br />
delivery locations<br />
Confirm <strong>and</strong> Pay<br />
• Last step in the<br />
process is<br />
confirmation,<br />
where customers<br />
review <strong>and</strong><br />
finalize payment<br />
for money<br />
transfer<br />
• Transfers can be<br />
paid for with a<br />
debit card or with<br />
a telephone /<br />
internet bank<br />
transfer<br />
• All payment<br />
activity is<br />
trackable on<br />
Azimo’s<br />
customer<br />
dashboard<br />
Source: Company website, FT Partners proprietary database, Capital IQ, Crunchbase.<br />
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