In partnership with HomeSend, a global remittance hub jointly developed by MasterCard, eServGlobal, and BICS, Azimo has added ten countries in Africa and the Asia-Pacific to the roster of nearly 200 countries its European customers can send money to.

HomeSend CEO Stephen Doyle credited Azimo’s “convenience, security, competitive pricing, and near-instant delivery” in explaining why the partnership makes sense. Founder and CEO of Azimo Michael Kent pointed out that his company now provides services ranging from cash payout to home-delivery money services. “This tie up with HomeSend to offer more mobile wallet services is a major step on our journey,” Kent said.

The new countries are Armenia, Burkina Faso, Fiji, Ghana, Indonesia, Kenya, Nepal, Nigeria, the Philippines, and Somaliland.

From left: Azimo co-founders, CTO Marek Wawro and CEO Michael Kent demonstrated at FinovateEurope 2013 in London.

HomeSend provides a centralized location for B3B cross-border and cross-network value-exchanges and transfers. The service enables finance and telecom service providers to offer their customers the ability to send money to mobile money accounts, payment cards, bank accounts, and cash kiosks. HomeSend was named “Best Payment Product in Africa” at the Asian Banker Middle East and Africa Awards 2015.

Companies like Azimo have played a major part in the investment boom in technology in the United Kingdom in general and London in specific. Azimo was profiled earlier this year in both The Guardian and Tech City News, and was a finalist at the Fintech Innovation Awards 2015. Azimo supports more than 70 different currencies and is partnered with more than 20,000 banks around the world.

Founded in January 2012 and headquartered in London, Azimo demonstrated its social remittance network at FinovateEurope 2013. The company has raised more than $30 million in funding, giving it a valuation of $100 million.

Happy International Family Remittance Day! And one international money-transfer startup is celebrating in style.

London-based Azimo has just secured a $20 million investment from a team of new and existing investors. The funding takes Azimo’s total capital to $31 million, and puts the company’s valuation at an estimated $100 million.

Frog Capital led the round, with participation from MCI Investments, e-ventures, Greycroft Partners, and other investors. Azimo said that it will use the capital to continue expansion in Europe and to enter markets in both North America and Asia.

“Azimo is just getting started on its mission to change the sector,” said company CEO Michael Kent. “But already we serve hundreds of thousands of customers and have built the most comprehensive global network of any digital money transfer business.”

Iyad Omari of Frog Capital pointed to the $600 trillion size of the global money-transfer business, and the fact that companies like Azimo were at the forefront of taking this business online and mobile. Frog Capital invests in IT, digital media, and resource efficiency startups that are growing more than 40%. Over the past five years, the London-based firm has exited companies with a total transaction value of more than €1 billion.

Azimo CEO and founder Michael Kent demoed his company’s international money-transfer service at FinovateEurope 2013 in London.

Azimo’s platform has connected more than 5 billion people, helping transfer money to more than 200 countries in more than 80 different currencies. In addition to experiencing a five-fold, year-over-year increase in the number of money transfers, Azimo was a finalist at the Fintech Innovation Awards this spring; expanded its service to Romania, China, and Thailand in February; and expanded to eight West African countries and the Philippines in January.

Within the international remittance economy, the business of migrant workers sending money back home is a point of emphasis and distinction for Kent and Azimo. In his statement announcing the new investment, Kent acknowledged the International Day of Family Remittances, adding that “these funds will allow us to further expand our services and continue to give the world’s migrants a better deal.”

Founded in 2012, Azimo demonstrated its technology at FinovateEurope 2013 in London.