Kadmos Raises €29M for Cross-Border Salary Payments
Kadmos, the end-to-end salary payments platform for cross-border employers, has raised €29 million in Series A funding round led by Blossom Capital. The investment round, which follows an €8.3m Seed round in December, also included existing investors Addition and Atlantic Labs.
Justus Schmueser, Kadmos co-founder said: “The financial restrictions placed on migrant workers are truly shocking. Employees need to wait days or weeks for their hard-earned salaries to reach their families and are then forced into paying exorbitant transaction fees or have to carry large sums of cash at their own risk. At Kadmos, we are working to change the status quo through cutting-edge financial technology and ensuring the hard-working people who power the global economy can keep more of their well-deserved salaries. The speed and size of our latest funding round underline the potential for our platform and we’re honored to partner with such a reputable and prestigious venture fund in Blossom.”
Kadmos has developed a secure salary payments platform for shipping companies that enables them to efficiently pay their crews. Kadmos provides each employee with access to the mobile app, where salary payments are instantly paid and which allows employees to transfer money home or use a debit card to spend or withdraw cash seamlessly.
This new financing will be used for technology and product development.
Announcement: Kadmos Raises €29M for Cross-Border Salary Payments