Kadmos receives 29 million euros

The Berlin-based fintech wants to simplify international salary payments for migrant workers.

Kadmos has raised 29 million euros in a Series A financing round. The start-up only received eight million euros in its pre-seed round in March of this year. Blossom Capital is leading the current round. The existing investors Addition and Atlantic Labs have invested again.

MIT graduates and founders Justus Schmüser and Sasha Makarovych state that they want to revolutionize the payment of salaries to guest workers. The company, which was founded in 2021, is currently focusing on the shipping industry, but the construction and healthcare sectors are soon to be added. Employers will be able to pay salaries to people from all countries via a single platform. The aim is to keep transfer fees as low as possible so that both employers and employees benefit. Employees should also be provided with debit cards that can be used worldwide.

Kadmos intends to use the new funding to hire new employees and further develop the product. Further financial services are to be made available to users in the future.