As the trend of remote work continues to grow, organizations worldwide are adjusting their onboarding procedures for new employees and navigating the complexities of cross-border payments.
This shift in work dynamics has led to a rise in demand for startups offering human resources (HR), payroll, and compliance tools to support businesses in remote hiring.
One such startup, RemotePass, based in the UAE, recently secured $5.5 million in Series A funding led by New York’s 212 VC.
Other investors in this funding round include Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, and several others.
Founded by CEO Kamal Reggad and Karim Nadi in late 2020, RemotePass enables businesses to onboard, manage, and compensate their workforce in countries where they lack a local presence.
The platform serves a diverse range of clients, including well-known companies like Spotify and Logitech, facilitating hiring processes in over 150 countries.
Originally founded as SafarPass, a business travel and expense management platform, RemotePass underwent a strategic pivot due to the impact of the global pandemic on travel.
Reggad’s firsthand experience in managing a remote workforce during the pandemic highlighted the need for a solution to address payment issues and compliance challenges faced by companies operating across borders.
Image Credits: RemotePass
RemotePass experienced significant growth during the pandemic, driven by client referrals, and saw a 2x increase in revenue between 2022 and 2023.
The platform, which caters to over 600 companies and 8,000 remote workers in emerging markets, offers multiple payout options to its users.
While industry leaders like Deel and Remote dominate the market, RemotePass differentiates itself with its focus on emerging markets, specifically in the Middle East and Africa.
The platform’s tailored approach in these markets includes features like dollar debit cards and monthly health insurance benefits to meet the unique needs of users in these regions.
RemotePass operates on a subscription model, with fees starting at $40/month per active contractor and varying rates for companies hiring full-time employees based on specific requirements.
With plans to enhance its enterprise readiness and expand its presence in Saudi Arabia, RemotePass aims to capitalize on its success and continue serving businesses in need of remote workforce solutions.
Ali Hikmet Karabey, managing director at 212 VC, praises RemotePass for its innovative approach to addressing workforce challenges and connecting companies with global talent.
