Kadmos raised €29m in a Series A funding round led by Blossom Capital
Summary
Kadmos, the end-to-end salary payments platform for cross-border employers, has raised 29m in a Series A funding round led by Blossom Capital. Kadmos is uniquely positioned to capitalize on the growing global cross-border B2C payment volume projected to reach $1.6 trillion by 2022, involving 169 million migrant workers worldwide.Kadmos was founded to tackle the severe restrictions placed on the financial freedom of cross-border employees and to use modern financial technology to allow migrant workers to have a streamlined salary experience, just as they would expect to work in their home country. 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. With outdated banking practices and multiple intermediaries that charge excessive fees, its clear that the process for cross-border payments is broken, and Kadmos fintech platform is exactly the technology to fix it.