RemotePass, an HR & Fintech platform that helps companies onboard, manage, pay, and retain remote workers, has secured $5.5 million in Series A funding.
In a statement, the company said the round was led by 212 VC with participation from 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.
The latest funding brings RemotePass’s total capital raised to more than $10 million, adding to previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
Founded by Kamal Reggad and Karim Nadi, RemotePass helps both startups and large listed enterprises like Spotify, Logitech and Paymentology to onboard, manage, and pay their talent base in countries where they do not have a local legal presence.
“Addressing today’s workforce challenges like talent mobility and remote work RemotePass stands out as a key enabler,” said Ali Hikmet Karabey, Managing Director of lead investor, 212 VC.
“It connects companies seeking a broader talent pool with emerging market talents who previously lacked access to global financial solutions and processes. This disruption positions them as game-changers in the UAE & KSA, hubs poised for global dominance,” he added.
RemotePass had initially been incorporated in 2019 as a business travel SaaS platform. Having operated as a remote-first company since its inception, the founding team had first-hand experience with the challenges of hiring and managing remote teams — especially in emerging markets.
During the COVID-19 pandemic, it pivoted as the world began to embrace remote working at scale. To date, emerging markets such as the Middle East and Africa have been a key focus for the company as well as developing a range of financial services through its ‘super app’. This includes multiple payout options, a USD debit card, and easy access to perks like premium health insurance.
Fadi Ghandour, Founder of Wamda Capital said: “What impressed us most at Wamda, and what confirmed our decision to back Kamal 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,”
Kamal Reggad, CEO and Co-Founder of RemotePass added: “Our platform helps democratise 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.”
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Image source: RemotePass
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