Azimo
Azimo is a UK-licensed cross-border payments company, founded in 2012 in London, that operates as Papaya Global's licensed payments arm enabling multi-currency workforce and remittance transfers on local rails via Ripple's network.
- Company typePrivate
- Founded2012
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Azimo does
Azimo is a London-headquartered digital cross-border money transfer company founded in 2012 that builds payment infrastructure for sending money internationally across multiple currencies on local rails. Its core technology includes integration with Ripple's network using XRP as a bridge asset to eliminate pre-funding costs in correspondent banking, real-time payment tracking, and direct payment capability to workers and local authorities. Following its acquisition by Papaya Global in March 2022, Azimo now operates as Papaya Global's licensed payments arm and holds regulatory licenses in five top-tier jurisdictions, including the UK and EEA, as a financial institution subsidiary.
The company's commercial model is transaction-based: it earns fees on cross-border transfers that historically served individual consumers sending remittances through its mobile app, and since the Papaya Global acquisition increasingly serve enterprise clients managing international workforces. Azimo's go-to-market is hybrid — direct-to-consumer through the self-serve Azimo Money Transfer App and enterprise distribution embedded inside Papaya Global's workforce management platform. Pricing details are not publicly disclosed.
Leadership is led by a CXO team including a Chief People Officer (Ilona Sapiezko), CFO (Tatiana Okhotina), COO (Dora Ziambra), Chief Product and Technology Officer (Rory Newton), with operating data consolidated under parent Papaya Global post-acquisition.
Azimo firmographics
Firmographics- Name
- Azimo
- Legal name
- Azimo Limited
- Website
- https://azimo.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Azimo is a UK-licensed cross-border payments company, founded in 2012 in London, that operates as Papaya Global's licensed payments arm enabling multi-currency workforce and remittance transfers on local rails via Ripple's network.
- Ownership category
- akta.pro rank
Azimo industry classification
Industry- Product category
- Cross-Border Payments & Remittances
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Cross-Border & Multi-Currency Gateway Services (FSAMACAI)
- akta.pro secondary industries
- Cross-Border Payment Orchestration & Routing (FSAGAKAJ), SME & Business Cross-Border Payments (B2B) (FSAMAIAB)
Keywords
Where Azimo is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Azimo business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Cross-border Money Transfers: Transaction-based fees for international money transfers, routing through Ripple's network with XRP for liquidity
Go-to-market motion2 records
Distribution channels2 records
Marketing channels2 records
Azimo product offering
Product offeringCore offering
Azimo provides cross-border payment infrastructure that enables direct payments to workers and local authorities across multiple currencies on local payment rails. Following its March 2022 acquisition by Papaya Global, Azimo operates as the parent company's licensed payments arm, holding regulatory licenses in five top-tier jurisdictions including the UK and EEA. It also continues to offer a consumer-facing money transfer application for personal international remittances, with live transactions routed through Ripple's network using XRP as a bridge asset.
Product overview
Azimo operates as a dual offering: its core infrastructure serves as Papaya Global's licensed payments arm (holding licenses in five top-tier jurisdictions including UK and EEA) enabling direct cross-border payments to workers and local authorities on local rails, while the consumer-facing Azimo Money Transfer App (acquired in March 2022) enables individual users to send international remittances. The two products function as a unified payment solution within Papaya Global's global workforce management platform.
Differentiator
Problem solved
Functional benefit
Products and services
- Azimo Payments Infrastructure Licensed cross-border payment infrastructure enabling direct payments to workers and local authorities across multiple currencies on local rails, serving enterprise clients via Papaya Global's workforce management platform.
- Azimo Money Transfer App
Companies that use Azimo
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Azimo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Azimo partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- RipplecoreAzimo actively routes live cross-border remittances through Ripple's network, using XRP as a bridge asset to eliminate pre-funding costs in correspondent banking. This integration enables efficient liquidity management for international money transfers.
- Papaya GlobalcoreIn March 2022, Azimo was acquired by Papaya Global and now serves as the company's licensed payments arm. Azimo's payment infrastructure has been integrated with Papaya Global's leading global workforce management platform, with licenses in five top-tier jurisdictions including UK and EEA.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Azimo competitors and assessment
Company assessmentBroad incumbents
- MoneyGram: MoneyGram is a global cross-border P2P payments and money transfer incumbent with both digital and retail agent channels. It is a broad incumbent peer to Azimo in cross-border remittances.
- Western Union: Western Union is the largest incumbent global money transfer operator with extensive agent networks and digital channels. It is a broad incumbent competing with Azimo on consumer remittances while offering a much wider physical and digital footprint.
Emerging players
- Deel: Deel is a global workforce management and payroll platform with embedded cross-border payment capabilities for international contractors and employees. It is comparable to Azimo's enterprise workforce payment role inside Papaya Global.
- Revolut: Revolut is a UK-headquartered digital banking and fintech platform that has expanded into international money transfers, multi-currency accounts, and remittances. It is an emerging player overlapping with Azimo on consumer cross-border payments.
Direct peers
- OFX: OFX is a global money transfer and foreign exchange provider serving both individuals and businesses with cross-border payments and multi-currency services. It is comparable to Azimo in its cross-border FX and payment infrastructure capabilities.
- WorldRemit: WorldRemit is a digital cross-border money transfer platform serving consumers and businesses with payouts to mobile wallets, bank accounts, and cash pickup locations. It is a direct peer to Azimo in consumer-facing international remittances.
- Remitly: Remitly is a US-headquartered digital remittance company focused on cross-border money transfers from high-income countries to emerging markets. It competes directly with Azimo's consumer remittance app on corridors, pricing, and customer experience.
- Wise: Wise (formerly TransferWise) is a UK-headquartered cross-border payments company offering multi-currency accounts and low-cost international transfers to both consumers and businesses. It is a direct peer to Azimo's consumer money transfer service and a benchmark for cross-border payment infrastructure economics.
Others
- Papaya Global: Papaya Global is a global workforce management platform that acquired Azimo in March 2022 and now uses it as its licensed payments arm. It is the parent and primary enterprise customer, providing Azimo's main distribution channel for workforce payments.
- Ripple: Ripple is a provider of enterprise blockchain and cross-border payment infrastructure using XRP as a bridge asset. It is a key technology partner and infrastructure provider for Azimo rather than a direct competitor.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks1 record
Key highlights6 records
Customer concentration
Azimo social profiles
Digital presenceAzimo compliance and trust
Trust signalCompliance1 record
Azimo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Azimo leadership team
Management profileNumber of profiles
Profiles5 records
Azimo funding detail
Funding detailFunding overview
Funding rounds8 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Azimo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Azimo
What does Azimo do?
Azimo provides cross-border payment infrastructure that enables direct payments to workers and local authorities across multiple currencies on local payment rails. Following its March 2022 acquisition by Papaya Global, Azimo operates as the parent company's licensed payments arm, holding regulatory licenses in five top-tier jurisdictions including the UK and EEA. It also continues to offer a consumer-facing money transfer application for personal international remittances, with live transactions routed through Ripple's network using XRP as a bridge asset.
Is Azimo a public or private company?
Azimo is a private company. It is classified as corporate owned and is currently acquired.
When was Azimo founded?
Azimo was founded in 2012. It employs 51 to 100 people.
Where is Azimo based?
Azimo is headquartered in London, United Kingdom, in the Europe region.
How does Azimo make money?
One revenue line is on record: cross-border Money Transfers.
Who are Azimo's main competitors?
Broad incumbents on record are MoneyGram and Western Union. Emerging players are Deel and Revolut. Direct peers are OFX, WorldRemit, Remitly and Wise. Others are Papaya Global and Ripple.
Does Azimo have an API?
No public API is recorded for Azimo.
What industry is Azimo in?
Azimo's product category is Cross-Border Payments & Remittances. Its primary akta.pro industry code is FSAMACAI, Cross-Border & Multi-Currency Gateway Services, with a secondary code of FSAGAKAJ, Cross-Border Payment Orchestration & Routing. Its SIC code is 6199.