RemotePass Leads to Success: US$5.5M Series A Fuels Global Talent Empowerment
RemotePass, the HR & Fintech platform specialising in onboarding, managing, paying, and retaining remote workers, has raised US$5.5 million in a Series A funding round. The oversubscribed investment was spearheaded by 212 VC, with contributions from global investors including Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund. This funding round brings RemotePass's total capital raised to over US$10 million, building upon previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
The Series A funding marks a testament to RemotePass's product growth and customer service since early 2023. Ali Hikmet Karabey, Managing Director of 212 VC and lead investor in the round, expressed confidence in RemotePass's visionary team and business model. He highlighted RemotePass as an important enabler, addressing contemporary workforce challenges such as talent mobility and remote work. The platform connects companies with a global talent pool and facilitates access to financial solutions for emerging market talents. This disruption positions RemotePass as a key player in the UAE and KSA, hubs for global dominance.
Co-founded by Kamal Reggad and Karim Nadi, RemotePass has established itself by serving a diverse clientele, including prominent names like Spotify, Logitech, Paymentology, and others worldwide. The platform allows clients to efficiently onboard, manage, and pay their talent base in over 150 countries, catering to startups and large enterprises alike.
CEO and Co-Founder Kamal Reggad emphasised RemotePass's commitment to democratising access to global opportunities, levelling the playing field for skilled individuals in the global job marketplace. The newly acquired funding will further fuel their mission to empower countless lives and support the success of global teams.
In the competitive landscape of remote work solutions, RemotePass has emerged as a frontrunner, depicting its deep understanding of emerging markets, particularly in the Middle East and Africa. The platform offers a comprehensive suite of benefits through its innovative super app, providing remote workers with easy access to financial services and tailored perks, including multiple payout options, a USD debit card, and premium health insurance. RemotePass also offers end-to-end contractor management, Employer of Record services, and relocation support for businesses.
Wamda Capital Founder Fadi Ghandour commended RemotePass's progress and traction, emphasizing the company's financials, strong team, and high growth potential. Ghandour highlighted Kamal Reggad's entrepreneurial capability, demonstrated during the challenging days of the pandemic when the company successfully achieved remarkable 35 percent month-over-month growth for the first two years.
Originally incorporated in 2019 as a business travel SaaS platform, RemotePass transitioned into a remote-first company, depicting the founding team's firsthand experience with the challenges of hiring and managing remote teams, particularly in emerging markets. The shift during the COVID-19 pandemic unlocked substantial growth, fuelled in large part by referrals from satisfied clients.
Endeavor Catalyst's Head of Capital and Investments, Margaret Pollack, praised Kamal Reggad's impact as a serial entrepreneur and expressed support for his journey since his earlier venture, Hmizate. RemotePass, emerging as a remote company from the UAE, showcases the continued entrepreneurial success of Kamal Reggad.
RemotePass's Series A funding positions the platform for further innovation and expansion in the dynamic landscape of HR and Fintech, with a continued focus on empowering remote workers globally.
