Digital money transfer Fintech Azimo has secured a license from the Dutch Central Bank (De Nederlandsche Bank) to operate its services in the Netherlands, according to a release from the firm. Azimo said its headquarters will remain in London and its engineering and operations in Kraków in Poland.
Azimo currently enables payments from Europe to more than 200 countries and territories in more than 80 currencies, reaching more than 5 billion potential customers. It offers a variety of transfer methods, including cash pick-up, bank deposit and payment into a mobile wallet.
The approval by the Dutch Central Bank follows the opening of Azimo’s office in Amsterdam. The license also assures that Azimo will continue to benefit from ‘passporting’ rights to operate across Europe, even in light of Brexit.
Michael Kent, CEO of Azimo, said they looked at many jurisdictions but decided the best place to expand their European operations was the Netherlands.
“Outside of the UK, it’s the best place to grow a fintech company in Europe. It offers a welcoming culture open to innovation, access to talent, a thriving banking sector and a strong regulator.”
Jeroen Nijland, Commissioner for the Netherlands Foreign Investment Agency, (NFIA), welcomed Azimo and said the event was indicative of the fact that the Netherlands is a great place to build and scale technology businesses.
“Our growing ecosystem of fintech companies serves consumers and businesses across the European continent and beyond. Azimo will be in good company amongst global players like Bloomberg and MarketAxess, and homegrown successes such as Adyen and Booking.com,” said Nijland.