Fintech Kadmos closes EUR 8.3 mln seed round

Friday 25 March 2022 12:18 CET | News

Germany-based fintech company Kadmos has announced the closing of its seed round and has raised EUR 8.3M in financing. 

The funding round was led by early-stage investor Addition, while existing investor Atlantic Labs also joined. Kadmos provides a solution for international salary payments, which aims to facilitate the salary journey of migrant workers. The start-up will use the new funds to accelerate product development, expand the team, and facilitate its entry into further industries.

Kadmos plans to expand its product features after the launch of its minimum viable product (MVP) in Q1. The company currently focuses on blue-collar migrant workers, yet plans to move into verticals with similar salary payment structures such as the construction industry, healthcare, and hospitality. Kadmos is aiming to help employers cut expenses and administrative work while enabling workers to save transaction costs and keep most of their salaries.

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Keywords: investment, expansion, cross-border payments, transactions , payment processing
Categories: Payments & Commerce
Countries: Germany
This article is part of category

Payments & Commerce