British fintech business Azimo has collected just over £6 million in a series A funding round led by Greycroft Partners.

The business, founded in 2012 by a group including CEO Michael Kent, allows people to send money to 192 countries around the world using mobile phones and other connected devices.

It said it would use the money to fund an expansion drive in key markets such as Europe, North America and Asia.

Accion’s Frontier Investments Group, eVentures, TA Ventures, RI Digital Ventures and KRW Schindler Investments also participated in the round.

"This financing will enable Azimo to continue to grow our international customer base, and enhance our product offering,” said Azimo Mr Kent.

“As well as building out our Facebook and other social media integrations, we are focused on opening new delivery channels for customers even if they do not have a bank account in the destination country."