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M&A SZN is still strong.
Kado Software, the Web3 Payments Infrastructure Company, has been acquired by swapped.com.
The team refused to disclose terms of the transaction, but plans to expand the US business of Danish-based company Swapped.com.
Kado founder Emery Andrew told me that the team has been weighing the options for a while, from fundraising discussions to searching for the right one to win it.
That was an obvious choice, he added. Especially since Andrew will remain to help expand its US business and products. He teased that they already have some products in their works, but they are not yet ready to disclose them.
“By combining our expertise and vision, we accelerate the creation of best-in-class Web3 products and UX, and both teams can achieve more than they can on their own. What’s more, US market expertise is of great value to us.”
The company was transparent, not someone I knew very well before chatting with Andrew, but it’s quite new, just 3 years old. The focus is on expanding Web3 payments. This attracted me to Kado.
For Andrew, it is about building a “next generation crypto-native payment product.”
