RemotePass secures $5.5 m funding in Series A 

RemotePass, a pioneering HR & Fintech platform revolutionizing the management of remote workers, has secured a substantial $5.5 million in Series A funding, marking a significant milestone in its growth trajectory.

This funding round, which was oversubscribed, was spearheaded by 212 VC, with a diverse array of investors from the US, Europe, and the Middle East joining in, including prominent names like Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund. With this capital injection, RemotePass’s total funding exceeds $10 million, building upon previous investments from notable backers such as BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.

Ali Hikmet Karabey, Managing Director of 212 VC, emphasized the groundbreaking nature of RemotePass’s solutions, particularly in addressing contemporary workforce challenges such as talent mobility and remote work. He lauded RemotePass for connecting companies with a diverse talent pool globally, especially in regions like the UAE and KSA, positioning itself as a transformative force in the industry.

RemotePass, co-founded by Kamal Reggad and Karim Nadi, caters to a broad spectrum of clients, ranging from burgeoning startups to established enterprises like Spotify, Logitech, and Paymentology, providing them with the means to effectively onboard, manage, and remunerate their distributed workforce across 150 countries.

Kamal Reggad, CEO and Co-Founder of RemotePass underscored the company’s mission to democratize access to global opportunities, empowering individuals worldwide to compete in the international job market. The recent funding infusion, he noted, would further bolster RemotePass’s efforts to uplift countless lives and strengthen the success of global teams.

RemotePass’s prominence in remote work solutions stems from its acute understanding of emerging markets, particularly the Middle East and Africa, coupled with its innovative super app offering various financial services and benefits tailored to remote workers’ needs worldwide. These include multiple payout options, a USD debit card, and access to premium health insurance, all accessible through a seamless mobile interface.

Furthermore, RemotePass distinguishes itself by providing businesses with end-to-end contractor management platforms and employer-of-record (EoR) services and offering relocation support, thereby streamlining the complexities associated with managing a remote workforce.

Fadi Ghandour, Founder of Wamda Capital, commended RemotePass’s resilience and adaptability, particularly during the challenging landscape of the COVID-19 pandemic. He highlighted the company’s exponential growth trajectory and robust financials as testaments to its strong leadership and market potential.

RemotePass’s journey began in 2019 as a business travel SaaS platform but swiftly pivoted to address the burgeoning demand for remote work solutions catalyzed by the pandemic. This strategic shift fueled RemotePass’s rapid growth, with a remarkable 35% month-over-month increase in its initial years, primarily driven by client referrals.

Margaret Pollack, Head of Capital and Investments at Endeavor Catalyst, expressed her confidence in Kamal Reggad’s entrepreneurial acumen, citing his track record of success from his previous venture, Hmizate. She commended RemotePass’s evolution into a remote-first company and pledged continued support for its trajectory of success.

RemotePass’s latest funding round underscores its pivotal role in reshaping the landscape of remote work solutions, fueled by its innovative approach, strong leadership, and unwavering commitment to empowering global teams in an increasingly digitized world.