Japanese shipping giant Nippon Yusen Kabushiki Kaisha, commonly known as NYK Line, is acquiring German fintech startup Kadmos, a salary payment platform tailored to seafaring workers. The acquisition underscores NYK’s ongoing efforts to expand its footprint within the maritime fintech market.
The financial terms of the agreement were not made public, with the deal anticipated to close in the coming weeks.
Established in 2021 by MIT alumni Justus Schmueser and Sasha Makarovych, Kadmos offers international payroll services with an emphasis on transparency and cost-effective transfers for shipowners, ship management companies, and their crews.
This acquisition marks a notable progression for NYK, which launched its financial services platform, MarCoPay, in Manila in 2019. MarCoPay specializes in offering loans and insurance products for Filipino seafarers and their families. Following significant growth and securing of an Electronic Money Issuer (EMI) license from the central bank of the Philippines, NYK is now further expanding its global reach by integrating Kadmos’s capabilities into MarCoPay.
Sasha Makarovych noted that the integration will leverage the strengths of both platforms—Kadmos’s global scale combined with MarCoPay’s established presence in the Philippines. He also emphasized that NYK’s strong international reputation and deep industry relationships will accelerate customer acquisition in new markets. According to Makarovych, Kadmos intends to use the partnership to extend its offerings to include corporate cards and cross-border B2B payments, while also targeting the cruise industry for future growth opportunities.
Kadmos differentiates itself from competitors—such as MarTrust, ShipMoney, and Brightwell—by providing fully digital, cash-free operations aboard vessels. With virtual point-of-sale devices and peer-to-peer transfer functionalities, it enables companies to swiftly deploy these services without complicated logistics related to personalizing payment cards. Additionally, its pricing structure offers companies flexibility in absorbing fees while maintaining full compliance with the Maritime Labor Convention guidelines.
The Kadmos team and its operational structure will remain largely intact, though adjustments in its management hierarchy are anticipated as part of the integration, according to Makarovych.
Previously, Kadmos raised a substantial $29.5 million Series A funding round in 2022, bringing its total financing to approximately $38 million and securing partnerships with more than 40 enterprise clients worldwide.
