NYK Line Acquires German Seafarer Payment Platform Kadmos
The Japanese shipping major aims to integrate Berlin-based Kadmos into its Philippine-born MarCoPay service, targeting global maritime payroll expansion.
(Photo: SBR)
TOKYO, June 23, 2025 — Japanese shipping company Nippon Yusen Kabushiki Kaisha, known globally as NYK Line, is acquiring Kadmos, a Berlin-based digital salary payment platform for seafaring workers, to expand its fintech presence across the global maritime sector.
Terms of the deal were not disclosed. The acquisition is expected to close in the coming weeks, according to both companies.
Kadmos was founded in 2021 by Massachusetts Institute of Technology graduates Justus Schmueser and Sasha Makarovych. The company enables shipowners and ship management firms to pay crew salaries across borders through a secure, compliant, and cost-effective digital platform.
NYK launched its fintech initiative, MarCoPay, in 2019 in Manila. The product offers loans and insurance to Filipino seafarers and their families and holds an Electronic Money Issuer license from the Bangko Sentral ng Pilipinas.
Seeking to grow its digital financial services beyond the Philippines, NYK approached Kadmos for a potential acquisition. The Japanese firm plans to merge Kadmos into MarCoPay, creating a broader payroll solution for seafarers of all nationalities.
“Our plan is to leverage Kadmos’ global reach and coverage while using advantages that MarCoPay has in the Philippines,” Sasha told TechCrunch. “Beyond that, we are planning to use the NYK brand and reputation to grow faster in shipping and sign customers quicker.”
Kadmos also intends to widen its offerings beyond payroll. The company plans to enter the cross-border B2B payments segment, introduce corporate card solutions, and expand into the cruise industry.
The current Kadmos team will remain, with some changes to the management structure, Sasha said.
Kadmos competes with platforms such as MarTrust, ShipMoney and Brightwell. Sasha said Kadmos differentiates itself by offering a fully integrated solution that enables ships to operate cashless through virtual point-of-sale systems and peer-to-peer transfer tools.
“Our cards are non-personalized and have the widest acceptance,” he said. “This allows companies to roll out Kadmos very quickly without complex logistics.”
Kadmos last raised $29.5 million in Series A funding in 2022, bringing total capital raised to $38 million. The company currently serves more than 40 enterprise clients.
Our cards are non-personalized and have the widest acceptance, which allows companies to roll out Kadmos to their ships very quickly.
