Papaya Global, a provider of global employer-of-record, global PEO and independent contractor compliance, announced today it acquired Azimo, a London-based global payment platform reaching more than 150 countries.
New York-based Papaya Global said the deal will enable it to make immediate payments across the globe, and the deal includes Azimo’s technology and expertise in cross-border money transfers.
“Azimo’s global digital payment network, multiple payment licenses and deep fintech expertise strengthens our ability to help companies manage and pay their remote teams,” Papaya Global co-founder and CEO Eynat Guez said.
Azimo was founded in 2012 by Michael Kent. Its apps enable users to send money, and the company’s platform is designed for both individual users and small and midsize businesses. Its competitors include MoneyGram, Western Union and Ria.
All of Azimo’s employees will join the Papaya Global team.
The acquisition of Azimo comes after Papaya Global announced a $250 million Series D funding round in September.