Azlo, a digital banking platform aimed at freelancers and self-employed workers, has announced the public availability of its service in the US.

Customers will be able to access dedicated business banking services instantly online, with no fees, minimum balances or “confusing conditions”. The platform has been designed with Millennials and entrepreneurs in mind, integrating modern digital business tools, such as e-commerce, point of sale and marketplace offerings.

Founded in 2017, Azlo’s initial funding round was led by Spanish banking group BBVA’s New Digital Business (NDB) unit. The capital raised is being used to further product development and to scale the platform, with a view to expanding to other global markets in the future.

Brian Hamilton, founder and CEO of Azlo, commented: “Our vision is to improve access to core financial services for entrepreneurs from all walks of life by offering transparent business banking services that enable them to pay and get paid, including across borders, promoting a free flow of money without fees or boundaries.

“Fair and uncomplicated access to these tools can help level the playing field for many marginalised communities of founders and business owners.”

Teppo Paavola, chief development officer at BBVA’s NBD unit, added: “Our goal at NDB is to identify banking disruptors that are transforming what we know as banking today. Azlo’s desire to provide entrepreneurs with a new banking experience designed to engage and partner with aspiring founders from all backgrounds is an appealing proposition.

“Our venture capital investment signals our belief in Azlo’s accomplished management team and will support public market availability and accelerated growth.”

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