EIB grants funding for digital transfers

The European Investment Bank (EIB) and Azimo, a European money transfer provider, have announced signing a €20 million debt financing agreement. This funding is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the investment plan for Europe developed by the European Commission.

This loan will help Azimo accelerate the development of the company and its proprietary automatic payment platform. Currently, approximately 130 out of 160 Azimo employees work in Kraków, and EIB financing will allow the company to expand its technical team faster.

“Nowadays, it often happens that people work in one country but use financial services in another. However, too many people do not have a bank account or other methods of sending and receiving money. Companies like Azimo make money transfers simple, secure and affordable,” Lilyana Pavlova, EIB Vice President responsible for operations in Poland, said.

(WBJ)