Papaya Global, the international hiring management platform for remote work, agreed to acquire Azimo, the digital money transfer service. This deal will make it possible for Papaya Global to pay employees across national borders.
The two firms will continue to operate as independent entities until the closing of the transaction. Upon the closing of the deal, Azimo employees will join Papaya. The acquisition will allow Papaya to use payment licenses in the United Kingdom, the Netherlands, Australia, Canada, and Hong Kong, as well as a payment network reaching over 160 nations.
Papaya Gobal CEO and co-founder Eynat Guez said, “Payroll payments made easy regardless of geography are what set us apart from other technology vendors, and this acquisition will make it possible for companies to make instant payments to their global teams.”