MarTrust
MarTrust is a UK FCA-regulated maritime payments platform providing E-Wallets, prepaid Mastercard cards, and cross-border payroll and vendor-payment processing for 600+ shipping companies and 50,000+ seafarers across 135+ currencies.
- Company typePrivate
- Founded2013
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What MarTrust does
MarTrust is a UK-regulated, maritime-specialist payments platform that combines a multi-currency E-Wallet, prepaid Mastercard debit card (issued by Monavate), crew payroll software, and cross-border vendor-payment processing into a single integrated offering for the global shipping industry. Operating as a wholly-owned subsidiary of The Marcura Group (backed by Marlin Equity Partners since August 2022) and holding Authorised Electronic Money Institution status with the UK Financial Conduct Authority (FRN 1018989), the company processes roughly $17bn in payments per year for 600+ shipping companies and 50,000+ crew members across 135+ currencies and 150+ countries. Its technology stack is purpose-built for maritime workflows: two-way payroll integration, daily-updated sanctions beneficiary screening, an 80% Cash-to-Master digitisation capability, and crew-to-crew instant transfers via QR code.
MarTrust firmographics
Firmographics- Name
- MarTrust
- Legal name
- MarTrust Corporation Limited
- Website
- https://martrust.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MarTrust is a UK FCA-regulated maritime payments platform providing E-Wallets, prepaid Mastercard cards, and cross-border payroll and vendor-payment processing for 600+ shipping companies and 50,000+ seafarers across 135+ currencies.
- Ownership category
- akta.pro rank
MarTrust industry classification
Industry- Product category
- Maritime Cross-Border Payment Services
- NAICS
- Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839), Support Activities for Transportation (488)
- SIC
- Water Transportation (4400)
- akta.pro primary industry
- Cash to Master (CTM) & Shipboard Cash Logistics (TLAHAJAH)
- akta.pro secondary industries
- Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH)
Keywords
Where MarTrust is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
MarTrust business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- International Bank Transfer Fees: MarTrust charges transaction fees on international bank transfers initiated by crew or corporate customers. Standard fee is USD $5 (or equivalent) per international transfer, with reduced fees for specific corridors (PHP to Philippines at $2.50) and higher fees for Russia ($25 USD / EUR €20). Intermediary bank fees (USD 15–50 per transaction) may also apply on certain routes.
- Foreign Exchange Margins: MarTrust earns revenue on the spread between interbank and customer exchange rates. FX fees range from 1% for major currencies (EUR, GBP, USD, JPY, etc.) to 3% for MMK. Card currency conversions, ATM withdrawals in foreign currencies, and crew wallet currency exchanges all generate FX revenue.
- Corporate/Vendor Payment Services: Shipping companies pay for vendor payment processing services, including beneficiary pre-screening, compliance checks, and cross-border payment execution. Revenue likely derived from per-transaction fees and/or FX margins on B2B payments.
- ATM & Cash Advance Fees: Crew members pay ATM withdrawal fees (1.75% of withdrawal amount in USD/EUR/GBP) and cash advance fees (1% for non-crypto currency transactions, 2% for crypto platforms) on card transactions coded as cash-equivalent (wire transfers, money orders, stored-value loads, foreign exchange, cryptocurrency purchases).
- Dormant Account Fee: A monthly dormant account fee of USD $9 is charged after 12 months of no transaction activity, generating revenue from inactive accounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | MarTrust Account — free core account for seafarers |
| Freemium | Pay-as-you-go | MarTrust Prepaid Mastercard Debit Card |
| Usage-based | Pay-as-you-go | Currency Exchange / FX Fees |
| Usage-based | Monthly | Dormant Account Fee |
| Subscription | Monthly | Corporate / Vendor Payments (B2B) |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels8 records
MarTrust product offering
Product offeringCore offering
MarTrust operates a cloud-based maritime payments platform that enables shipping companies to pay seafarers and vendors globally via a multi-currency E-Wallet paired with a prepaid Mastercard debit card. The platform supports cross-border crew payroll, Cash-to-Master (CTM) digitisation, and vendor/supplier payments across 135+ currencies and 150+ countries, with maritime-specific compliance, daily sanctions screening, and 24/7 dedicated support. It is delivered to companies through direct enterprise sales and to seafarers through a self-serve mobile app.
Product overview
MarTrust is a maritime payment platform providing a comprehensive suite of solutions for the shipping industry. The core offering consists of the MarTrust E-Wallet/Crew Account for seafarers, the Crew Payroll Platform for companies to manage crew payments, and the Vendor Payments Platform for supplier payments. These are complemented by the MarTrust Debit Mastercard, Crew-to-Crew instant transfers, Apple Pay integration, Auto-Send automation, and Cash-to-Master digitisation capabilities. The platform processes over $17 billion in payments annually, supports 135+ currencies across 150+ countries, and is designed specifically for the unique compliance, FX, and cross-border payment needs of maritime operations.
Differentiator
Problem solved
Functional benefit
Products and services
- MarTrust E-Wallet / Crew Account Multi-currency digital wallet and account for seafarers, enabling salary receipt, holdings in up to three currencies (USD, EUR, GBP), global transfers to 150+ countries in 135+ currencies, and spending via the linked MarTrust Debit Mastercard. Free to open and maintain; revenue is earned through transfer fees, FX margins, and card usage fees.
- Crew Payroll Platform Enterprise platform for shipping companies to streamline crew payroll processing, with two-way payroll software integration enabling one-file, one-settlement processing, automated fixed-percentage salary repatriation to crew families, and digitisation of Cash-to-Master (CTM) payments by up to 80%. Replaces cash delivery to vessels with electronic fund transfers for salary, bonuses, overtime, and cash advances.
- Vendor Payments Platform Global vendor and supplier payments platform for maritime companies, enabling safe and efficient cross-border payments in over 130 currencies with beneficiary pre-screening, anti-fraud checks, daily-updated sanctions screening, and access to competitive FX rates via one of the world's largest payment networks. Reported 99%+ accuracy on vendor payment transfers.
- MarTrust Debit Mastercard Prepaid Mastercard debit card issued by Monavate under Mastercard licence, available as physical card and via Apple Pay. Supports instant multi-currency conversion (USD, EUR, GBP) at competitive FX rates, global ATM withdrawals, point-of-sale, and online purchases. Free issuance and replacement; ATM withdrawals beyond the free allowance charged at 1.75%.
- Cash-to-Master (CTM) Digitisation Standalone digitisation solution that reduces physical cash on vessels by at least 80% by replacing cash-to-master delivery through port agents with electronic fund transfers directly to crew E-Wallets. Supports salary, bonuses, overtime, and cash advances, addressing the security, logistics, and cost burden of carrying cash onboard.
Quantifiable outcome
- Reduce Cash-to-Master by at least 80%
- +8 more outcomes
Companies that use MarTrust
Customer profileNamed customers23 records
Segments3 records
Ideal customer profiles3 records
MarTrust technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature7 records
MarTrust partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Marcura Group (Parent Company)coreMarTrust is a subsidiary of The Marcura Group. MarTrust was developed as a spin-off of DA-Desk's payment services (founded by Domenico Carlucci around 2011–2014). Marcura provides group-level infrastructure, regulatory oversight, and customer relationships across 650+ maritime enterprise customers.
- MonavatecoreMonavate issues the MarTrust Debit Mastercard. Monavate (Company Number: 12472532) is authorised in the UK by the Financial Conduct Authority to issue electronic money and provide payment services (Firm Reference Number 901097). The card operates under a Mastercard licence.
- MastercardcoreMastercard is the payment network for the MarTrust Prepaid Debit Mastercard. The card is issued by Monavate pursuant to licence by Mastercard International Inc. Enables global acceptance at ATMs and merchants worldwide.
- Leading Global Financial InstitutionscoreMarTrust works in close partnership with leading global financial institutions to enable safe and efficient cross-border payments. These banking partners support payment processing, compliance, and settlement. MarTrust describes its network as 'one of the world's largest payment networks'.
- ISWAN (International Seafarers' Welfare Assistance Network)minorMarTrust provides a link to ISWAN/SeafarerHelp on its welfare support page. ISWAN runs a free 24/7 multilingual helpline for seafarers providing emotional, wellbeing, and practical support. MarTrust is not officially affiliated but references ISWAN as a trusted welfare resource.
- Sailors' SocietyminorMarTrust's crew welfare resources page references Sailors' Society for wellness tools, advice, and crisis support for seafarers and families. Partnership is informational/welfare-focused rather than commercial.
- Stella MarisminorMarTrust's crew welfare resources page references Stella Maris (port chaplains worldwide) for daily support through ship visits, emotional care, practical assistance, and spiritual guidance.
- Mission to SeafarersminorMarTrust's crew welfare resources page references Mission to Seafarers for everyday spiritual and emotional support through its global network of chaplains in 200+ ports.
- ITF (International Transport Workers' Federation) Seafarer SupportminorMarTrust's crew welfare resources page references ITF Seafarer Support, which provides free support from global inspectors for seafarers facing problems with pay, contracts, or abuse.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
MarTrust competitors and assessment
Company assessmentDirect peers
- ShipMoney: ShipMoney is a direct competitor in maritime prepaid card and crew payment solutions, offering payroll, remittance, and onboard spending products to seafarers. It is the most directly comparable niche player to MarTrust in maritime-specialist payments.
Broad incumbents
- Wise: Wise (formerly TransferWise) is a cross-border payments incumbent serving consumers and businesses with multi-currency accounts and FX. It competes with MarTrust in crew remittance corridors and is the reference employer of MarTrust's CEO, making it a direct competitive and talent benchmark.
- Remitly: Remitly is a digital remittance platform serving migrants and workers sending money to 170+ countries. It overlaps with MarTrust's seafarer send-money-home use case, particularly to the Philippines, India, and other key crew source markets.
- Payoneer: Payoneer provides cross-border B2B payment and multi-currency account services to SMBs and marketplaces. It is comparable to MarTrust's vendor payments platform in cross-border B2B use cases for maritime suppliers and contractors.
- Airwallex: Airwallex is a cross-border B2B payments and FX platform serving businesses with multi-currency accounts and supplier payments. It is comparable to MarTrust's vendor payments offering and competes for the same shipping company treasury customers.
- Revolut Business: Revolut Business provides multi-currency business accounts, corporate cards, and FX. It is comparable to MarTrust as a digital-first alternative to traditional banking for shipping company treasury and crew payment workflows.
- Tide: Tide is a UK-based digital business banking platform serving SMBs. It is comparable to MarTrust's corporate/treasury proposition for small shipping operators and crewing companies in the UK market.
Others
- DA-Desk (Marcura Group): DA-Desk is the parent Marcura Group's port cost management business, which spun off MarTrust's payment services. It is comparable as the platform from which MarTrust originated and as the integration point for crew payroll and port call cost data.
- Monavate: Monavate is MarTrust's card issuing partner and an FCA-regulated e-money issuer. It is comparable as the infrastructure provider for MarTrust's prepaid Mastercard programme and could be considered a partner/competitor in adjacent programme management verticals.
- Wärtsilä Marine: Wärtsilä is a major maritime technology and services provider with broad shipping industry relationships. It is comparable to MarTrust as a maritime-domain technology vendor serving similar shipping company buyers, though in vessel systems rather than payments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
MarTrust social profiles
Digital presenceMarTrust compliance and trust
Trust signalCompliance4 records
MarTrust financial estimates
Financial estimateRevenue estimate
Valuation estimate
MarTrust leadership team
Management profileNumber of profiles
Profiles5 records
MarTrust funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MarTrust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MarTrust
What does MarTrust do?
MarTrust operates a cloud-based maritime payments platform that enables shipping companies to pay seafarers and vendors globally via a multi-currency E-Wallet paired with a prepaid Mastercard debit card. The platform supports cross-border crew payroll, Cash-to-Master (CTM) digitisation, and vendor/supplier payments across 135+ currencies and 150+ countries, with maritime-specific compliance, daily sanctions screening, and 24/7 dedicated support. It is delivered to companies through direct enterprise sales and to seafarers through a self-serve mobile app.
Is MarTrust a public or private company?
MarTrust is a private company. It is classified as corporate owned and is currently operating.
When was MarTrust founded?
MarTrust was founded in 2013. It employs 11 to 50 people.
Where is MarTrust based?
MarTrust is headquartered in London, United Kingdom, in the Europe region.
How does MarTrust make money?
Five revenue lines are on record. International Bank Transfer Fees are the primary driver. The others are foreign Exchange Margins, corporate/Vendor Payment Services, ATM & Cash Advance Fees and dormant Account Fee.
Who are MarTrust's main competitors?
ShipMoney is listed as a direct peer. Broad incumbents are Wise, Remitly, Payoneer, Airwallex, Revolut Business and Tide. Others are DA-Desk (Marcura Group), Monavate and Wärtsilä Marine.
Does MarTrust have an API?
No public API is recorded for MarTrust.
What industry is MarTrust in?
MarTrust's product category is Maritime Cross-Border Payment Services. Its primary akta.pro industry code is TLAHAJAH, Cash to Master (CTM) & Shipboard Cash Logistics, with a secondary code of THALAHAB, Card Issuing & Virtual Cards (lodge cards, single-use, tokenization). Its NAICS code is 4883 and its SIC code is 4400.