Papaya Global to buy Azimo for $150M-$200M
Six months after raising $250 million, Papaya Global is making a key acquisition to expand its cloud-based HR and payroll platform globally on the heels of major surge in remote working. The Israeli startup is acquiring Azimo — the London-based money transfer business that Facebook once tried to buy to spearhead its own remittance efforts — a deal that will see Papaya Global moving into more markets, and launching more services such as instant payroll payments.
Terms of the acquisition are not officially being disclosed, but a source close to companies tells me that the deal was between $150 million and $200 million.
