UK-based online remittance service Azimo launches Dutch subsidiary

London-based money transfer service Azimo has announced the launch of its new Dutch subsidiary Azimo BV, thus creating a separate operations hub for the management of transfers sent from outside the UK. The move marks the anticipation of Brexit amongst FinTechs in the UK.

Richard Ambrose, CEO of Azimo, said, “Aside from London, Amsterdam is the best place in Europe to grow a fintech company. It has a culture open to innovation, outstanding talent, a thriving banking sector, and a sophisticated regulator. It also guarantees that we can continue to benefit from EU passporting rights to offer our service across Europe.”

According to Azimo, it was granted a license by the Dutch Central Bank this year and opened the Amsterdam office shortly after to house and grow its European operations.

The supplier states that it has served around than a million customers and has handled more than £2 billion/ €2.3 billion of transfer volume. Its transfer volume increased by 60% year-on-year in the financial year to June 2019.

Azimo

Azimo is a digital money transfer service, based in London and Krakow, that democratizes financial services. Azimo Business for business owners and entrepreneurs aims to provide a faster way to buy goods and services, pay staff and invest overseas.

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