Six months after raising $250m, Papaya Global is making a key acquisition to expand its cloud-based HR and payroll platform globally on the heels of major surge in remote working. The Israeli startup is acquiring Azimo — the London-based money transfer business that Facebook once tried to buy to spearhead its own remittance efforts — a deal that will see Papaya Global moving into more markets, and launching more services such as instant payroll payments.
“Papaya’s customers will benefit hugely from our long experience in building payment technology and operating as a regulated payments business,” Azimo CEO Richard Ambrose said in a statement.