Japanese shipping giant NYK Line is making a strategic move to strengthen its fintech services in the maritime industry by acquiring Germany’s innovative salary payment platform for seafaring workers, Kadmos. This acquisition signals NYK’s commitment to expanding digital financial solutions tailored specifically for the shipping sector.
While the financial details of the deal remain undisclosed, industry insiders expect the acquisition to be finalized within the coming weeks. Founded in 2021 by MIT alumni Justus Schmueser and Sasha Makarovych, Kadmos was created to offer affordable, transparent, and efficient international salary transfers for seafaring personnel, including shipowners and management companies.
NYK’s interest in Kadmos is part of a broader strategy to elevate its digital payment offerings beyond the Philippines, where it launched the MarCoPay platform in Manila in 2019. MarCoPay provides loans, insurance, and other financial services to Filipino seafarers and their families. Since then, NYK has partnered with numerous shipowners and management firms and even secured an Electronic Money Issuer license from the Philippine central bank.
The plan now is to integrate Kadmos into the MarCoPay platform, creating a seamless payroll solution for seafarers of all nationalities. “Our goal is to leverage Kadmos’ global reach and combine it with MarCoPay’s strong presence in the Philippines,” explains Sasha Makarovych. “Using the trusted NYK brand, we aim to accelerate growth within the shipping industry and onboard more customers quickly, as NYK is highly respected worldwide.”
Beyond payroll, Kadmos is eyeing expansion into cross-border B2B payments and corporate card services. The company also plans to extend its financial solutions to the cruise industry, partnering with NYK to better serve shipping companies and seafarers alike.
Kadmos’ leadership team will remain intact, with minor adjustments to management to support its growth. The company distinguishes itself from other digital payment providers for maritime companies—such as MarTrust, ShipMoney, and Brightwell—by offering comprehensive, cashless solutions. Its features include virtual point-of-sale devices and peer-to-peer transfers, making operations on vessels more efficient and secure.
“Our non-personalized cards are widely accepted, enabling ships to deploy Kadmos quickly without the hassle of managing physical card logistics,” Makarovych notes. “Our flexible pricing model allows companies to customize fee coverage for their crew while maintaining compliance with maritime regulations like the Maritime Labor Convention. Unlike competitors charging fixed SaaS fees, Kadmos offers tailored solutions.”
Kadmos has demonstrated strong growth, raising $29.5 million in a Series A funding round in 2022, bringing total capital raised to $38 million. Currently, the platform serves over 40 enterprise clients, cementing its position as a leading digital financial partner for the maritime industry.
This strategic acquisition by NYK Line underscores a broader industry shift towards digital payment solutions, aiming to streamline financial operations for seafarers worldwide and enhance the overall efficiency of maritime logistics.
