Dubai, UAE-based RemotePass raised USD 5.5 million in Series A funding. The round took place on March 4, 2024. 212 VC led the financing for the company. Meanwhile, investors from the US, Europe, and the Middle East, such as Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund, joined in the funding.
Purpose of financing for RemotePass
With the latest funding, RemotePass’s total funding now amounts to USD 10 million. It earlier raised previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
What the investors have to comment
Ali Hikmet Karabey, managing director at 212 VC, the round’s lead investor, said, “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.”
Wamda Capital founder Fadi Ghandour further said, “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.”
What the company’s official has to add
Kamal Reggad, CEO and co-founder at RemotePass, further said, “Our platform helps democratize access to global opportunities, levelling 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.”
About the company
Kamal Reggad and Karim Nadi are the founders of the company. From small businesses to major corporations like Spotify, Logitech, and Paymentology, RemotePass provides services to a diverse clientele. It facilitates their talent base onboarding, management, and compensation in nations where they lack a local legal presence. Clients of RemotePass have access to engage contractors and full-time workers in more than 150 nations. Access to a variety of financial services and benefits, such as different payout methods, a USD debit card, and benefits like health insurance, are provided by the RemotePass app, which is designed with remote workers in mind. RemotePass offers companies relocation assistance and end-to-end contractor management platforms in addition to EoR services.
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