Digital money transfer company Azimo has added 10 new countries to its service for customers in Nordic countries.
The new service delivers transfers to recipients’ bank accounts in local currency. With low rates, fast delivery times, and 100% coverage for all bank accounts, Azimo’s service to these 10 new countries is now the best in the market.
Nearly 3.5 million foreigners and children of foreign parents live in Denmark, Norway and Sweden; they send more than $7 billion abroad each year.
Azimo’s number and volume of transfers from Denmark, Norway and Sweden have increased by more than 150% in the last twelve months. Other important countries have also recently been added to its service, including the Philippines, Nigeria and Poland.
The company completed a $20 million fundraising round, led by Rakuten Capital, in May, which is being used to support the rapid growth of Azimo’s business in the Nordic countries and across the rest of Europe.
Michael Kent, CEO of Azimo, commented: “We already serve customers in Denmark, Norway and Sweden. We’re now extending our service to more countries, allowing more customers to send money around the world at a much better rate.”