Azlo Business, Inc.
| ISIN | 🆔 |
|---|---|
| Industry | Financial services |
| Founded 📆 | 2017 in San Francisco |
| Founders 👔 | Brian Hamilton Cameron Peake |
| Headquarters 🏙️ | , |
Area served 🗺️ | United States |
Key people | |
| Members | |
Number of employees | |
| Parent | Banco Bilbao Vizcaya Argentaria |
| 🌐 Website | azlo |
| 📇 Address | |
| 📞 telephone | |
Azlo is a U.S.-based online banking service that offers FDIC-insured business checking accounts through a partnership with BBVA Compass. Azlo does not charge fees for its services, and partners with the Allpoint network for access to around 55,000 surcharge-free ATMs.
History[edit]
- Azlo was founded in early 2017 by Brian Hamilton and Cameron Peake.[1]
- BBVA invested in Azlo and helped to incubate the business in their New Digital Businesses unit in San Francisco.[2]
- In February 2018, Azlo launched to the public.[3]
- When mobile business banking startup Seed announced it was shutting down in November 2018, Seed recommended their customers migrate to Azlo.[4]
Business Model[edit]
Azlo is entirely online and has no physical branches. Instead, customers access their accounts through the Azlo website or mobile apps for Android and iOS. Azlo earns revenue from merchant interchange fees and by collecting interest on deposits. They plan to explore lending in the future.
References[edit]
- ↑ "Azlo Launches the First Digital Business Banking Platform Focused on Empowering Millennials and Diverse Entrepreneurs in the New Economy". PR Newswire.
- ↑ Semple, Chris (2018-02-15). "BBVA partners with new venture Azlo to help bank underserved entrepreneurs". BBVA.
- ↑ Noto, Grace. "BBVA-Backed Digital Bank Azlo Launches in the U.S." Bank Innovation.
- ↑ Alois, JD (2018-11-02). "Mobile Bank Startup Seed Shuts Down". Crowdfund Insider.
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