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Azimo Announces $1M Seed Round for European Expansion

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As far as Azimo is concerned, the “M” in Monday might as well stand for “Million Dollar Seed Round.”

FinovateEurope alum Azimo announced that it has raised “just over” $1 million in seed funding from existing investors.

The seed round was led by the European division of venture capital firm, eVentures, and included investment from Matt Cooper, founder of Capital One. The $1 million is slated to help the U.K.-based money transfer startup successfully expand to the Continent.

The new funding puts Azimo’s total capital at approximately $1.5 million. The company announced an angel investment of 300,000 pounds ($480,000 USD) in January of this year. TechCrunch is reporting that Azimo’s European expansion will begin in Germany. Other nations targeted include France, Ireland, the Netherlands, and Spain.
Azimo provides a simple and secure money transfer service that allows people to transfer money via PC or mobile device in more than 125 countries around the world. Funds can be transferred using debit cards or bank accounts, and cash can be received at more than 150,000 collection points.
To celebrate the funding news, Azimo will be offering free money transfers through October. More on transferring money via Azimo available here.
Founded in London in January 2012, Azimo was launched in August of that year. The company demoed its technology as part of the FinovateEurope 2013 show in February.