Dubai-based SaaS and fintech startup RemotePass has raised $5.5 million in a Series A round led by Turkish VC 212, it announced in a statement today. Endeavor Catalyst, Khwarizmi Ventures Oraseya Capital, Flyer One Ventures, Access Birdge Ventures, A15, and Swiss Founders Fund also participated in the deal.
The round takes RemotePass’s total financing to date to $10 million. It has previously raised capital from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.
Founded in 2019 by Kamal Reggad and Karim Nadi, RemotePass originally started as a business travel platform but pivoted into a remote hiring startup after Covid-19. It now acts as an all-in-one platform, helping its clients onboard, manage, pay, and retain remote workers (contractors and full-time employees) in over 150 countries where they don’t have legal presence.
The startup currently serves over 360 business of different sizes, including Spotify and Logitech, across more than 50 countries.
According to its website, RemotePass charges $40 per contractor per month for helping company hire full-time or part-time contractors, and $299 per employee month for hiring full-time employees (to act as their Employee of Record). Deel offers similar products at $49 per contractor per month and $599 per employee per month, respectively.
RemotePass’s app provides remote workers with different financial services and other benefits, including a USD debit card, access to health insurance, tracking and management of expenses, and various payout options.
Kamal Reggad, co-founder and CEO of RemotePass, said, ” Our platform helps democratize 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.”
Ali Hikmet Karabey, Managing Director, 212, said, “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,” he added.
The Dubai-headquartered startup plans to use the latest funds to fuel its growth.
