INSUBCONTINENT EXCLUSIVE:
Kadmos, as it seeks to further expand the reach of its fintech services in the maritime sector
The companies did not disclose the financial terms of the acquisition deal, which is expected to be completed in the next few weeks.MIT
alumni Justus Schmueser and Sasha Makarovych founded Kadmos in 2021, aiming to provide businesses, including shipowners and ship management
NYK launched a financial services platform called MarCoPay in Manila, Philippines, offering loans and insurance for Filipino seafaring
workers and their families
Since then, it has collaborated with shipowners and ship management companies and has even acquired an electronic money issuer (EMI) license
from the Philippine central bank.NYK approached Kadmos for the acquisition in line with its plan to grow its digital payment business beyond
It plans to incorporate the Kadmos platform into MarCoPay, providing payroll solutions to seafaring workers of all nationalities
stay with the company, with slight adjustments to the management structure.There are several digital payment platforms available for
maritime companies, such as MarTrust, ShipMoney, and Brightwell.Makarovych, however, thinks Kadmos stands apart thanks to its end-to-end
reach, listing as examples its features that let companies operate completely cashless on vessels, including virtual point-of-sale devices
recently raised a $29.5 million Series A round in 2022
It now has more than 40 enterprise customers.
