The HR and fintech company RemotePass raised $5.5 million in Series A funding led by 212 VC with participation from investors in the US, Middle East, and Europe. These included – Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund. With this funding, RemotePass’s total capital raised surpasses $10 million, adding to previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
Founded by Kamal Reggad and Karim Nadi, RemotePass serves a diverse range of clients, from startups to large listed enterprises like Spotify, Logitech, Paymentology, and others around the globe, enabling them to onboard, manage, and pay their talent base in countries where they do not have a local legal presence. Its clients can hire full-time employees and contractors in over 150 countries.
Kamal Reggad, CEO and Co-Founder, RemotePass, said “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.”
This app offers easy access to a range of financial services and benefits tailored to the needs of remote workers in the global marketplace, including multiple payout options, a USD debit card, and easy access to perks like premium health insurance. Apart from an end-to-end contractor management platform, RemotePass provides businesses with EoR services and relocation support.
“Witnessing RemotePass’s remarkable product growth and stellar customer service since early 2023 solidified our belief in their visionary team & business model. 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. This disruption positions them as game-changers in the UAE & KSA, hubs poised for global dominance,” said Ali Hikmet Karabey, Managing Director, 212 VC.
Founded in 2019, the team had an understanding of building SaaS platforms, and the pivot from a travel tech platform to a HR tech platform helped the company grow at 35 per cent month-on-month.
RemotePass has HR tools like multi-currency expense management, time-off tracking with multi-level approval flows, along with mass payroll processing. An organisation’s remote team gets access to the RemotePass Super App.
“The beauty of serial entrepreneurs like Kamal is that their impact doesn’t stop at their first company. We are so happy to support his journey since Hmizate (his earlier venture) and now with RemotePass as a remote company coming out of the UAE,” said Margaret Pollack, Head of Capital and Investments, Endeavor Catalyst.
The app offers financial services and benefits like a USD payroll card for instant payments, seven payout methods, and health insurance options in over 90 countries. By leveraging RemotePass’s Employer of Record (EOR) and contract solutions, businesses can streamline international hiring and manage complex global employment tasks, allowing them to focus their expertise and resources on their core mission.
“We are thrilled with the progress and traction that RemotePass has shown in its few years of operation. The 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 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,” said Fadi Ghandour, Founder, Wamda Capital
