In the competitive landscape of digital payments in the maritime industry, players like MarTrust, ShipMoney, and Brightwell are on the scene. However, Makarovych believes that Kadmos shines brightest thanks to its comprehensive offerings, which include cashless ship operations, cutting-edge virtual POS devices, and seamless peer-to-peer currency exchanges.
Let me spill the tea on the latest buzz in the maritime world. NYK Line, the big fish in Japanese shipping, is making moves to acquire Kadmos, a top-notch German platform catering to the salary needs of sailors. Their plan? To expand their fintech services across the maritime industry.
While the specifics of the deal remain under wraps, the stage is set for the deal to unfold in the coming weeks.
But wait, Kadmos is far from done. Beyond payrolls, they have their sights set on cross-border B2B transactions and corporate cards. Teaming up with NYK, they aim to tap into the cruise industry and introduce a plethora of financial services tailored to shipping companies and seafarers.
Kadmos, set up in 2021 by the brainy MIT alums Justus Schmueser and Sasha Makarovych, is all about providing cost-effective and transparent payment solutions for ship-related enterprises, with a special focus on seafarers.
Kadmos hit the jackpot with a hefty $29.5 million in Series A financing in 2022, bolstering their chest with a total of $38 million. Their client base now boasts over 40 businesses.
NYK is eyeing Kadmos as a strategic move to extend their digital payment empire beyond the Philippines. The game plan involves integrating Kadmos into MarCoPay to revolutionize payroll services for sailors globally.
In 2019, NYK introduced MarCoPay in Manila, Philippines, as a financial hub for Filipino sailors and their families, offering financial assistance like loans and insurance benefits. Fast forward to today, they’ve joined forces with shipowners and managers and clinched an Electronic Money Issuer license from the Philippine central bank.
