Exclusive: Kado Software acquired by Swapped.com
Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team
YuPonka/Shutterstock modified by Blockworks
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M&A szn is still going strong.
Kado Software, the Web3 payments infrastructure company, was acquired by Swapped.com.
The team declined to disclose the terms of the deal, but it plans to grow the US operations for Swapped.com, which is a Denmark-based firm.
Emery Andrew, Kado’s founder, told me that the team’s been weighing its options for a while — from debating a fundraise to looking for the right fit to acquire it.
It was an obvious choice, he added. Especially because Andrew will stay on to help helm the US operations and product expansion. He teased that they already have some products in the works, but they’re not yet ready to disclose them.
“By merging our expertise and vision, we can accelerate the creation of best-in-class Web3 products and UX, achieving more than either team could on its own. In addition, the US market expertise is something of great value to us,” Swapped.com CEO Thomas Franklin said in a statement.
The company — which, transparently, was not one I was very familiar with before chatting with Andrew — is fairly new, only about three years old. Its focus is on expanding Web3 payments, which is what drew it to Kado.
For Andrew, it’s about building the “next generation of crypto-native payments products.”
“It’s a natural progression that payments is a race to zero in terms of fees, as more players enter the market, it’s natural that there’s more competition,” he told me. Right now, it’s still quite expensive, but Andrew’s hoping to take a page out of the stablecoin book when looking at how Kado — and Swapped.com — can lower fees for users.
And now we wait to see what products these two have up their sleeves.
Note: Blockworks co-founder Jason Yanowitz is an investor in Kado.
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