News Summary

Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) has acquired Kadmos, a German salary payment platform for seafarers, as part of its strategy to expand its fintech services in the maritime sector. Founded in 2021 by MIT alumni Justus Schmueser and Sasha Makarovych, Kadmos provides international salary transfer solutions specifically for seafaring workers. NYK plans to integrate Kadmos into its existing financial services platform MarCoPay, which was launched in the Philippines in 2019. This acquisition aims to leverage Kadmos’ global reach and enhance MarCoPay’s offerings beyond the Philippines, providing comprehensive payroll solutions to seafarers worldwide. Kadmos is also looking to expand its services to include cross-border B2B payments and corporate cards, and to extend its offerings to the cruise industry. The financial terms of the acquisition were not disclosed.