“Can a vertically-focused fintech own the end-to-end salary payment and financial management stack for global maritime and migrant workers, displacing cash and opaque intermediaries?”
Founded in 2021 as an end-to-end salary payment platform targeting cross-border migrant workers, Kadmos quickly focused its vertical on the maritime/shipping sector, where crew payroll is notoriously manual, opaque, and intermediary-heavy. The platform initially relied on Rapyd Europe hf. as its regulated eWallet and card issuer, with Kadmos providing the technology layer and mobile app. In 2025, Kadmos obtained its own FCA EMI licence in the UK, signalling a shift from pure tech wrapper toward becoming a regulated payments operator in its own right, particularly for the global maritime workforce.
Kadmos discloses Rapyd as its banking provider, according to the Embedded Finance Index 2026.
Kadmos does not disclose a bank charter of its own; its banking services are provided through Rapyd.
Kadmos processes payments through Rapyd.
Kadmos's cards are issued through Rapyd.
Kadmos uses Rapyd for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 4 layers in Kadmos's stack: Payments / PSP (Rapyd); Banking / BaaS (Rapyd); Card issuing (Rapyd); FX & payouts (Rapyd).
Kadmos was founded by Justus Schmüser and Olexandr Makarovych and is founded in 2021, headquartered in Berlin, Germany (with UK operations via KDMS Payments Limited, London).
Kadmos has raised $48.5M in total (latest round: Series A, 2024).
Get a read on where your own stack stands against Kadmos and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.