Azimo, a London, UK-based digital service that gives consumers cheaper international money transfers, raised $1m in seed-funding.
Backers included e.ventures and existing angels such as Matt Cooper.
The company intends to use the fundsto expand the network and launch it service in the rest of Europe.
Founded in 2012 by CEO Michael Kent and Ricky Knox, Azimo allows consumers to use the web, a mobile app or Facebook to send money to friends, family or other contacts in 190 countries. The service is mainly used by foreign-born residents in many countries, who send money overseas.
To mark the funding event, Azimo is making all transfers totally free, starting today and throughout October.