European Investment Bank and Azimo sign EUR 20 mln venture debt deal

Tuesday 4 February 2020 11:50 CET | News

The European Investment Bank (EIB) and Azimo, the European money transfer service, have announced a EUR 20 million debt agreement.

The financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe.  

The loan will help Azimo accelerate its expansion, including the development of its proprietary automated payments platform. Currently, some 130 of Azimo’s 160 total staff are based in Kraków, and EIB financing will enable the company to grow its technical team there more rapidly. 

Founded in 2012, Azimo offers digital cross-border money transfer services. Azimo has built a payout network of 20,000 local banks in more than 200 countries and territories.

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Keywords: European Investment Bank, Azimo, cross-border money transfer, financing , payments
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech