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    Reference: 20190325
    Release date: 17 December 2019

    Promoter – Financial Intermediary

    AZIMO LTD

    Location

    Description

    Founded in 2012, Azimo is an innovative fintech company offering cross-border money transfer services. Headquartered in London, with offices in Amsterdam and in Krakow, where they have their Polish research, development and innovation (RDI) centre, Azimo's mission is to promote financial inclusion through technology, making money transfers affordable and available to all.

    Objectives

    The proposed loan will support RDI activities, as well as the related marketing and sales expenditures in support of promoter's expansion within the EU.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 49 million

    Environmental aspects

    The project activities are not listed in any annexes of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU and will be carried out in existing facilities already authorized that will not change their scope due to the project. The proposed investments do not require any additional permits. The project is not expected to have any negative environmental impact.

    Procurement

    Being a private sector company not operating in the utilities sector and not having a status of a contracting authority, Azimo is not covered by the EU Public Procurement Directives.

    Status

    Signed - 12/12/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Poland Services