The investment round followed the company’s EUR 8,3 million Seed round in December 2021 and included existing investors Atlantic Labs and Addition.
The new funds will allow Kadmos to further develop its products and technology. The company is already working closely with shipping companies and built a strong waitlist ahead of full-scale customer onboarding in the summer of 2022.
Kadmos was founded to reduce the severe restrictions placed on the financial freedom of cross-border workers and uses modern financial technology to allow migrant workers to benefit from a streamlined salary experience, like the one they would have in their home country. The platform allows its customers to have access to a mobile app, where they can instantly receive their salary payments and transfer money home or use a debit card for cash-in or cashless operations, including payments and withdrawals.
Founded in 2017, the company will use the new round of investment to grow its employee base and invest in the development of its products and services. It plans on expanding in other industries with similar salary payment complexities such as healthcare, hospitality, and construction.
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