What is Azimo?
Azimo, operating as a licensed payments arm of Papaya Global, provides a robust platform for international workforce-related payments. The company facilitates direct payments to employees and local authorities, manages secure cross-border transactions in multiple currencies, and ensures compliance with stringent regulatory frameworks. Azimo's services are designed to streamline global payroll operations, offering real-time payment tracking and status updates to enhance transparency and efficiency for businesses managing international teams.
How much funding has Azimo raised?
Azimo has raised a total of $86M across 6 funding rounds:
Angel/Seed
$1M
Series A
$10M
Series B
$20M
Unspecified
$15M
Series C
$20M
Debt
$20M
Angel/Seed (2013): $1M with participation from eVentures
Series A (2014): $10M led by eVentures, Greycroft Partners, RI Digital Ventures, and TA Ventures
Series B (2015): $20M supported by MCI Investments, e.ventures, Frog Capital, and Greycroft Partners
Unspecified (2016): $15M, investors not publicly disclosed
Series C (2018): $20M backed by Rakuten Capital, e.ventures, Silicon Valley Bank, MCI, Quona Capital, Frog Capital, Greycroft Partners, and GR Capital Partners
Debt (2020): $20M with participation from European Investment Bank
Key Investors in Azimo
European Investment Bank
The European Investment Bank (EIB) is the European Union's nonprofit long-term lending and finance institution, established in 1958 and headquartered in Luxembourg, providing crucial financial backing for projects aligned with EU policy objectives.
Greycroft Partners
Greycroft is a leading venture capital firm specializing in investments within the internet and mobile markets, leveraging its extensive network to support entrepreneurs in building successful businesses.
eVentures
eVentures is a prominent venture capital fund known for its global network of experienced investors and entrepreneurs, actively supporting innovative ventures.
What's next for Azimo?
The recent major strategic investment in Azimo, now part of Papaya Global, signals a strong growth trajectory and an expansion phase for its international payment solutions. This capital will likely fuel further development of its compliance infrastructure and payment technologies, enabling broader market penetration. Azimo's focus on secure, compliant, and efficient cross-border payments positions it to capitalize on the increasing demand for global payroll solutions, especially as remote work and international employment become more prevalent. The company's integration with Papaya Global suggests a strategic move towards offering a more unified and comprehensive global payroll and payment experience.
See full Azimo company page
