Azimo launches fee FREE money transfer promotion from France!

FINAL

Press Release
May 2014

Fee FREE international money transfers from France. Online, from your PC, mobile and even via Facebook

Azimo has announced that its money transfer service from 19 European countries will be fee FREE for the foreseeable future, with guaranteed competitive exchange rates.

According to the World Bank, over 90% of transfers are sent to family members. It is well known that most social media users are connected to their family and friends, particularly amongst diasporas of migrant workers who are also traditionally the largest senders of money transfers. This is especially evident in France, which is home to 7.2 million foreign nationals, the sixth largest number of migrants in the world. Meanwhile, Senat’s Statistics data suggest that the total population of the French diaspora is about 1.6 m people who were in the Register of French citizens resident outside France, this registration is not compulsory but represents an increase of 3% in average since 2000.

The World Bank estimates that remittances totaled $550 billion in 2013, of which $414 billion went to developing countries, involving some 232 million migrants. The French expat and migrant remittance market is continuing to grow with customers, according to Eurostat France migrants have sent €8.8bn in 2012 representing an increase 5.6% compared to 2011. This money has been sent to country such as Morocco, Tunisia, Algeria, China, Vietnam, Senegal or Ivory cost.

These money transfer corridors represent an opportunity for Azimo to help migrants save money by offering rates up to 60% lower than traditional providers like the banks, Western Union and Moneygram. In fact, with their high rates, Africa is loosing about €2 billion per year, preventing families from investing in education in health for example.

Azimo is now available in France, the company recent expansion has made it’s online money transfer service available to a total of 335 million potential customers across Europe who now have the ability to send cash across borders at low cost to 7 billion friends and family members around the world.

Azimo CEO, Michael Kent, explains: “when we founded Azimo our mission was to get prices as low as possible. We want to save hard working people money and being online enables Azimo to do that”.

How do you send money with Azimo? It is quick and easy to register at the new French website www.azimo.com/fr using your email address or with your Facebook profile. You simply provide the sender’s details and those of the recipient. The transaction needs to be paid using card payment or online transfer.

-ENDS-

Notes to editors:

For further press information, please contact:
James Brooke / Helen Batte / Jasmin Othman / Tim Thackray
T: +44 (0)20 3440 8930
E: TeamAzimo@rooster.co.uk

About Azimo
Launched in 2012, Azimo is a UK-based online social money transfer service which is changing the way people send money around the world. Honest, transparent and social, Azimo is the cheapest and easiest way to send money to 198 countries across the world, from your smartphone, tablet or desktop and even through Facebook.

Azimo is challenging the big boys of the money transfer market; with rates up to 85 per cent cheaper and a hard-working team who believe in providing the best customer service, Azimo has created a better way to send money between countries.

Committed to ethical trading, by lowering the cost of transferring cash overseas, Azimo is having a real impact on some of the poorest parts of the world. In addition, the online transfer service has committed to donating up to 10% of its profits to charities that work to support the poorest in society.

Founded by CEO Michael Kent and Marek Wawro, the company is backed by a US$10 million Series A funding round led by Greycroft Partners and including Accion’s Frontier Investments Group, eVentures, TA Ventures, RI Digital Ventures and KRW Schindler Investments.

Azimo is a financial technology company authorised as a Payments Institution by the UK Financial Conduct Authority and registered as a Money Transfer Business with HM Revenue and Customs.

For more information or to transfer money, go to www.azimo.com
Facebook: www.facebook.com/azimomoney
Twitter: @azimomoney