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.
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Papaya Global to buy Azimo for $150m-$200m to expand its payroll payments to more markets
“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.
