It seems there’s still money be made in money transfers. Azimo, the UK-based social money transfer service that competes with legacy players Western Union and Moneygram, and to a lesser extent, PayPal, has raised just over $1 million in seed funding from the European arm of VC firm eVentures. Existing angel investors also participated in the round, including CapitalOne founder Matt Cooper, which brings the company’s total funding to-date to around $1.5 million.
Azimo says the new capital will be used to expand the service to other parts of Europe, in terms of who can send money (the service already supports 190 destination countries around the world). TechCrunch understands that Germany will be first, with Ireland, France, Spain, and Netherlands pegged to follow on the startup’s roadmap.
Launched in August 2012, Azimo aims to disrupt the remittance industry by letting users transfer money internationally to friends, family or other contacts via the Web…
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