Berlin natives spearhead a wild concept, generating millions in profits.
Let's dive into the tale of two buddies from uni who, with Corona hitting, thought they'd make something amazing.
It was the birth of a first-of-its-kind Fintech in Germany, zeroing in on an unusual customer base: seafarers, sailors, and captains aboard cargo or cruise ships. Their payment partner in crime is Kadmos.
In just four quick years, Sasha Makarovych and Justus Schmueser, the founders, pulled off a pretty wild exit: the Japanese shipping behemoth Nippon Yusen Kabushiki Kaisha (NYK) scooped up 100% of Kadmos' shares. The price tag? Stuffed under therug, but it's safe to say it's in the triple-digit millions, based on previous funding rounds valuations.
So, what made this unique, maritime-focused startup a roaring success? Let's hear it from the horses' mouths, aka the founders.
Rule Number One for Founders: Solve real-life problems
Even though the idea of specializing in sea-based salary payments as a Berly-based Fintech in 2021 might sound a little bonkers, the founders approached it like true hustlers in a startup Bible. They started where the pain points were real - the sucky, impossible-to-ignore problems.
Insight: Kadmos financial solution unlocks payment freedom for seafarers
The marine industry can be painfully slow and expensive when it comes to international salary transfers, making life difficult for seafarers who often live and work far from home. But Kadmos' secure, easy-to-use system changes the ball game, bringing fast, hassle-free payments to seafarers across the globe.
"What about the financing aspect of Kadmos' success?"
"To finance their startup, Sasha Makarovych and Justus Schmueser identified and addressed the real-life problem of slow and expensive international salary transfers for seafarers, offering them a secure, easy-to-use financial solution."
