ShipMoney
ShipMoney is a Florida-based fintech providing digital payment solutions to commercial shipping companies and the seafarers they employ. Its platform centers on a prepaid crew card and supports wage disbursement, remittances, payroll advances, and B2B corporate payments across 150+ countries.
- Company typePrivate
- Founded2012
- HeadquartersFort Lauderdale, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What ShipMoney does
ShipMoney (legal entity Maritime Payment Solutions LLC) is a private maritime payment company founded in 2012 and headquartered in Fort Lauderdale/Miami, Florida. It operates a digital payment platform that serves commercial shipping companies and the seafarers they employ, with reported reach across 4,500+ client ships and 195+ countries. The product portfolio is anchored by the Crew Card, a prepaid card product, with adjacent modules for digital crew wage disbursement, cash-to-master alternatives, remittances, payroll advances, onboard expense management, and B2B corporate payments. The platform is supported by a self-serve crew portal (card.shipmoney.com) and dedicated iOS and Android mobile applications.
The company operates a B2B2C go-to-market model: shipping companies sign multi-year enterprise contracts and pay transaction-based fees, while their seafarer employees gain access to the prepaid card, remittance rails, and payroll-advance features. Distribution is anchored by direct enterprise sales with a 'Book a Demo' funnel targeting fleet operators, supplemented by a self-serve cardholder portal for crew. Leadership consists of founder and President Stuart Ostrow and EVP of Compliance / Information Security Officer / CCO Lee Ann Brinkley.
Monetization is concentrated in crew payment processing fees, with reported cumulative outputs of 150,000+ crew cards issued, 3,000,000+ remittances processed, and activity in 195+ countries — figures that indicate meaningful transactional volume but are not accompanied by disclosed revenue. Pricing is quote-based, tied to fleet size and transaction volume, with multi-year contract cadence. The company does not disclose funding rounds, patents, awards, partnerships, or M&A activity in the available data.
ShipMoney firmographics
Firmographics- Name
- ShipMoney
- Legal name
- Maritime Payment Solutions LLC
- Website
- https://shipmoneycorporate.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ShipMoney is a Florida-based fintech providing digital payment solutions to commercial shipping companies and the seafarers they employ. Its platform centers on a prepaid crew card and supports wage disbursement, remittances, payroll advances, and B2B corporate payments across 150+ countries.
- Ownership category
- akta.pro rank
ShipMoney industry classification
Industry- Product category
- Maritime Payment Solutions
- NAICS
- Freight Transportation Arrangement (488510), Support Activities for Water Transportation (4883)
- SIC
- Arrangement Of Transportation Of Freight & Cargo (4731), Finance Lessors (6172)
- akta.pro primary industry
- Cash to Master (CTM) & Shipboard Cash Logistics (TLAHAJAH)
- akta.pro secondary industry
- Vessel Husbandry & Crew Services (Crew Change, Meet & Assist, Transport, Shore Passes) (TLAHAJAB)
Keywords
Where ShipMoney is headquartered
LocationHeadquarters
- HQ city
- Fort Lauderdale
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
ShipMoney business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Crew Payment Processing: Transaction fees charged to shipping companies for processing crew wages, cash advances, and remittance payments through the ShipMoney platform. The B2B model involves shipping companies paying for payment services distributed to their seafarer employees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | B2B enterprise pricing for shipping companies |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
ShipMoney product offering
Product offeringCore offering
ShipMoney operates a digital payment platform that enables shipping companies to disburse wages to seafarers, replace onboard cash via prepaid Crew Cards, and process international remittances across 195+ countries. The platform supports cash-to-master alternatives, payroll advances, and onboard expense management through prepaid cards and a dedicated mobile app, allowing fleet operators to administer crew payroll from a single system while crew members self-manage beneficiaries and transactions globally.
Product overview
ShipMoney offers a unified maritime payment platform designed for the shipping industry. The core offering consists of Crew Payment Solutions centered around Crew Wages disbursement and the Crew Card, supplemented by add-on modules including Cash-to-Master Alternatives, Remittances, Payroll Advances, and Onboard Expenses. The platform also includes Corporate Payments for B2B transactions and a Mobile App for on-the-go account management. The architecture is designed as a single-system solution replacing multiple manual channels: companies can administer all payroll through one platform while crew members independently manage beneficiaries, access funds, and send remittances home. The platform serves 4,500+ client ships across 195+ countries with 150,000+ crew cards issued and 3,000,000+ remittances processed.
Differentiator
Problem solved
Functional benefit
Products and services
- Crew Payment Solutions Digital payment platform enabling shipping companies to automate crew wage disbursement, reconcile cash advances, and allow seafarers direct access to their earnings through digital cards.
- Crew Wages Digital wage disbursement system enabling shipping companies to pay seafarers directly, giving them instant access to their earnings and control over how, where, and when they send money home.
- Crew Card Prepaid card solution providing seafarers with onboard access to their wages, enabling them to make purchases, withdraw cash, and manage finances while at sea or in port.
- Cash-to-Master Alternatives Digital replacement for traditional cash advances to ship masters, eliminating the need to carry and manage physical cash onboard vessels.
- Corporate Payments B2B payment solutions for shipping companies to manage vendor payments, supplier invoices, and other corporate transactions.
- Remittances International money transfer service enabling seafarers to send earnings to family members across 195+ countries, typically at lower costs than traditional remittance channels.
- Payroll Advances Early wage access solution allowing crew members to receive advances on their earned wages before standard pay periods.
- Onboard Expenses Digital payment system for crew purchases and expenses incurred while onboard ships, integrated with the crew card ecosystem.
- ShipMoney Mobile App Secure and user-friendly mobile application enabling seafarers to manage payments, access funds, view transaction history, and transfer money on the go, available on iOS (App Store) and Android (Google Play).
Quantifiable outcome
- Serving thousands of seafarers across 150+ countries globally
- +3 more outcomes
Companies that use ShipMoney
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles1 record
ShipMoney technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
ShipMoney partnerships and signals
Strategic signalScale indicators5 records
Recent moves5 records
Expansion highlights4 records
ShipMoney competitors and assessment
Company assessmentDirect peers
- PayCargo: Digital B2B payment platform purpose-built for the maritime, aviation, and logistics industries. Like ShipMoney, PayCargo serves shipping companies with specialized payment infrastructure rather than relying on generic banking rails, and competes for the same customer wallet.
Broad incumbents
- Western Union: Global incumbent in cross-border money movement, including the traditional Cash-to-Master channel that ShipMoney is disrupting. Competes with ShipMoney on the remittance side for seafarer wages sent home, but is not specialized in maritime crew payment infrastructure.
- MoneyGram: Established cross-border remittance network with comparable global reach to ShipMoney's 195+ country footprint. Serves overlapping end-user needs (seafarer remittances) but lacks maritime-specific payroll and card issuance capabilities.
- Visa Direct: Card-network push payments platform enabling real-time payouts to cards globally. A potential disintermediation threat — if Visa packages maritime-specific use cases, it could bypass ShipMoney's specialized card and remittance rails.
- Mastercard Send: Mastercard's push-payment platform for disbursements and cross-border transfers. Operates the rails on which ShipMoney partly depends but also competes as a direct cross-border payout solution for enterprise payroll customers.
Emerging players
- Remitly: Digital-first remittance platform targeting immigrant and migrant worker populations — a demographic that overlaps heavily with ShipMoney's seafarer user base. Competes for the same cross-border send-to-home transactions via mobile-first UX.
- Wise (formerly TransferWise): Cross-border payments specialist known for low-fee FX and transparent pricing. While not maritime-specific, Wise's brand and price competitiveness among globally mobile workers overlaps with ShipMoney's value proposition to seafarers sending money home.
- Airwallex: Cross-border B2B payments and treasury platform for global businesses. Comparable to ShipMoney's Corporate Payments product offering for shipping companies managing multi-currency vendor and supplier flows.
Others
- Tipalti: B2B accounts payable and global payout automation platform. Comparable to ShipMoney's Corporate Payments module — both serve businesses needing to pay vendors and contractors across borders with built-in compliance.
- Payoneer: Cross-border B2B payments and working capital provider for SMBs and freelancers globally. Overlaps with ShipMoney on multi-currency payouts to globally distributed workers, though Payoneer is not specialized in maritime crew.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
ShipMoney social profiles
Digital presenceShipMoney financial estimates
Financial estimateRevenue estimate
Valuation estimate
ShipMoney leadership team
Management profileNumber of profiles
Profiles2 records
ShipMoney funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ShipMoney 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 ShipMoney
What does ShipMoney do?
ShipMoney operates a digital payment platform that enables shipping companies to disburse wages to seafarers, replace onboard cash via prepaid Crew Cards, and process international remittances across 195+ countries. The platform supports cash-to-master alternatives, payroll advances, and onboard expense management through prepaid cards and a dedicated mobile app, allowing fleet operators to administer crew payroll from a single system while crew members self-manage beneficiaries and transactions globally.
Is ShipMoney a public or private company?
ShipMoney is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ShipMoney founded?
ShipMoney was founded in 2012. It employs 11 to 50 people.
Where is ShipMoney based?
ShipMoney is headquartered in Fort Lauderdale, United States, in the North America region.
How does ShipMoney make money?
One revenue line is on record: crew Payment Processing.
Who are ShipMoney's main competitors?
PayCargo is listed as a direct peer. Broad incumbents are Western Union, MoneyGram, Visa Direct and Mastercard Send. Emerging players are Remitly, Wise (formerly TransferWise) and Airwallex. Others are Tipalti and Payoneer.
Does ShipMoney have an API?
No public API is recorded for ShipMoney.
What industry is ShipMoney in?
ShipMoney's product category is Maritime Payment Solutions. Its primary akta.pro industry code is TLAHAJAH, Cash to Master (CTM) & Shipboard Cash Logistics, with a secondary code of TLAHAJAB, Vessel Husbandry & Crew Services (Crew Change, Meet & Assist, Transport, Shore Passes). Its NAICS code is 488510 and its SIC code is 4731.