London-based fintech Azimo just raised $22 million in venture debt from the European Investment Bank to tackle the $700 billion remittances market
This story requires our BI Prime membership. To read the full article,UK-based fintech Azimo has brought in 20 million euros from the European Investment Bank as part of a venture debt facility.
Azimo, which provides money transfer services to customers, was approached by the EIB in early 2019 about a prospective deal which subsequently closed before Christmas last year. The EIB is an odd choice for fintechs but while the lender is more regularly associated with large project finance deals it has provided venture debt to other European fintechs in the past, including Qonto, N26, and iZettle.
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