RemotePass Secures $17.4 Million in Series B Funding
RemotePass has successfully secured $17.4 million in a Series B funding round led by EBRD Venture Capital. This funding aims to enhance the experience of hiring, paying, and managing workers across different countries.
Founded in 2021 by Kamal Reggad and Karim Nadi, RemotePass is headquartered in both Boston, Massachusetts, and Abu Dhabi, UAE. The company provides a unique combination of Employer of Record (EOR) services, contractor management, and global compliance solutions, all integrated with financial technology. This setup gives workers easy access to USD bank accounts, corporate expense cards, and health insurance in one convenient platform.
The founders started RemotePass to tackle the difficulties of international hiring and payment processes, especially in regions where establishing a local business entity can be challenging. Reggad emphasizes that their mission extends beyond just hiring. “This round is about acceleration,” he explains. “Companies need a comprehensive platform that supports their teams, including the financial services necessary for effective remote work.”
The company’s business model is built on charging fees per worker for their employment services, and it has achieved profitability in the last year—a key factor that attracted the attention of EBRD. Amine Chabane, a principal at the venture capital firm, noted that RemotePass has achieved significant growth with a fraction of the funds compared to other companies in the sector, showcasing their disciplined approach.
Along with EBRD, other investors such as 500 Global, Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures participated in this round, bringing the total funding raised by RemotePass to $28 million.
Currently, RemotePass employs 140 people across 27 countries and plans to expand its workforce to around 200 by year-end. Their impressive client list includes well-known companies like Logitech, Tata Group, InDrive, and Careem.
The new funding will help RemotePass expand its operations in Europe and the U.S., enhance its product offerings—especially around compliance—and accelerate its plans for artificial intelligence. The company has already begun using AI agents to streamline onboarding and automate various tasks.
Looking to the future, the founders believe that the fields of HR, finance, and IT will increasingly integrate into a unified financial infrastructure. Reggad points out that the traditional model—where payroll, spending, and compliance are handled separately—is becoming outdated. He believes that payroll, being a major financial aspect of any company, will play a central role in managing the employee lifecycle.
Reggad concludes by stating that the businesses that will thrive in the upcoming decade will be those providing all-in-one platforms for the needs of global teams. At the same time, AI agents will become an essential part of organizational processes, enhancing rather than replacing human roles in tasks like payroll and compliance. With the Series B funding, RemotePass is poised to advance these visions.
