Remittance Startup Azimo raises $15 Million from Rakuten

Veritas Finance


Azimo, the startup which was once rumored to be in talks to get acquired by Facebook, has closed a $15 Million funding round from Rakuten, the eCommerce giant and the owner of Viber. The investment, more of a strategic one, will help Azimo integrate its services into messaging apps like Viber. The funding will also be used in expansion within Asian Markets.



The investment is from the FinTech fund set aside by Rakuten. The same fund led the $120 Million round in Cabify recently.



Talking on the development, Michael Kent, CEO – Azimo stated that the startup is looking to integrate with maximum messengers and not only Viber to reach out to the maximum amount of users. He did not comment on the valuation on which the latest investment is raised, however, going by the reports, the valuation seems a little higher than $100 Million it had in the previous round.



Azimo has been active in European markets all this while, however, with the funding, it has all plans to venture into the Asian Markets.



Author: Kunwar Prithvi Singh Chauhan

Kunwar Prithvi Singh Chauhan, popularly known as Kiddo in surroundings is a teenage entrepreneur and a public speaker. He loves to explore new places, taste new dishes, make new friends and read awesome content. +KunwarPrithvi