Azimo, one of Europe’s leading digital money transfer service, has proclaimed that it has reached cost-effectiveness during Q2 2019. Succeeding the fruitful expansion of sending to regions such as Africa and south-east Asia, the volume of transfers enabled by Azimo increased by 60% year on year.
Based in the UK and Poland, Azimo offers clienteles a fast, low-cost way to send money abroad that encounters the dominance of banks and traditional money transfer providers. It wires payments in more than 80 currencies to more than 190 receiving countries, attainment of more than 5 billion potential clients. Building on the impetus of its expansion strategy, Azimo will be spreading its services to allow clients to send money from Asia, the biggest money transfer region in the world, before the end of 2019.
Michael Kent, the co-founder of Azimo, is also stepping down as CEO, to be succeeded by former PayPal executive Richard Ambrose, who has been the company’s COO for the last two years. Mr. Kent will take up the place of executive chairman.
Stating on the achievements of the company, Mr. Kent said: “I am immensely proud of the sustained growth and success of Azimo, and of the team that made it happen. We’ve created a world-class service and payment platform, which is changing the lives of millions of people around the world.”