RemotePass—an HR and fintech platform that helps companies onboard, manage, pay, and retain remote workers—announced it has secured $5.5 million in Series A funding. The round was led by 212 VC and participated in by investors in the US, Europe, and the Middle East, including Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund.
With this funding round, RemotePass’s total capital raised has surpassed $10 million, adding to previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
Launched by Kamal Reggad and Karim Nadi, RemotePass serves many clients, from startups to large enterprises like Spotify, Logitech, Paymentology. And it helps them onboard, manage, and pay their talent base in countries where they don’t have a local legal presence. RemotePass’s clients can hire full-time employees and contractors in over 150 countries.
The RemotePass app also offers access to a range of financial services and benefits tailored to the needs of remote workers, including multiple payout options, a USD debit card, and perks like health insurance. And apart from an end-to-end contractor management platform, RemotePass provides businesses with EoR services and relocation support.
KEY QUOTES:
“Witnessing RemotePass’s remarkable product growth and stellar customer service since early 2023 has solidified our belief in their visionary team and business model.”
“By addressing today’s workforce challenges like talent mobility and remote work, RemotePass stands out as a key enabler. It connects companies seeking a broader talent pool with emerging market talents who previously lacked access to global financial solutions and processes.”
- Ali Hikmet Karabey, managing director at 212 VC, the round’s lead investor
“Our platform helps democratize access to global opportunities, leveling the playing field for skilled individuals and enabling them to compete in a global job marketplace. This funding fuels our mission to empower countless lives and help global teams succeed.”
- Kamal Reggad, CEO and co-founder at RemotePass
“This oversubscribed funding round is a testament to the company’s robust financials, strong team, and high growth potential. What impressed us most at Wamda, and what confirmed our decision to back Reggad and his team since inception, is his entrepreneurial capability, which he demonstrated during the difficult days of the pandemic when he pivoted the company and subsequently built a great startup.”
- Wamda Capital founder Fadi Ghandour
