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UAE-based startup HR Tech startup and remote hiring platform RemotePass has successfully raised an undisclosed 7 figures in its latest funding round. The Pre-Series A round was led by BECO Capital with participation from Wamda Capital, Khwarizmi VC, Flat6Labs, Wealth Well, and a syndicate of Saudi investors.
Founded in 2020, RemotePass has been a great responder to the hybrid workforces in the region and around the globe. Through their seamless platform, companies can hire talent in over 120 countries as independent contractors or as employees in compliance with local labor laws. In a tightlyt consolidated offering, RemotePass offers a clickthrough experience for companies to easily handle everything from compliance to payroll as well as day-to-day HR operations in a GDPR-compliant environment.
The VC space in the UAE has shifted gear after crossing the $1Bn mark by Q4 2021 as most recently recorded in our November Venture Investment Dashboard. Observing a 93% YoY growth in VC funding across the Emirates dispersed over only 2% more deals than same time last year, the investor activity in the UAE have been focused on later-stage deals and bigger capital pools. Of the many industries driving global and regional venture capital, it was FinTech and Transport & Logistics (T&L) that raised the largest portion of the funds, accounting for more than 50% of all capital raised by November 2021. This year, VC investors partook in larger rounds backing Tech disruptions and digital adoption, the likes of FinTech Tabby, T&L startup LyveGlobal, and Cloud Kitchen Tech startup Kitopi. Yet, major investors have been also engaged with the HR Tech solutions coming out of the region; backing startups like AI-powered Palm.HR the automated HR platform and Egypt-based Career180 recruitment platform.
RemotePass strives to equip companies with all necessary tools to employ talent anywhere while providing their teams access to benefits and financial services regardless of their location.. Although the startup offers a full-stack platform, they understand that larger companies have their preferred tools in place, thus, offering built-in integrations with multiple HR and accounting software to increase productivity. In light of this platform boosting investment Co-founder Kamal Reggad highlighted “COVID has demonstrated that there is an increase in productivity when working remotely, today we see more demand on remote talent than ever, and companies who resist this change will simply miss out on talent. RemotePass enables talent to work from anywhere, and the raising round has given us validation and confidence to further grow the brand. We are extremely excited and thank our investors for believing in RemotePass since day 1.”
RemotePass currently services 80+ global & regional companies like MENA’s latest Unicorn SWVL as well as Saudi’s Unifonic and UAE’s eyewa,, assisting them in managing their growing global workforce in 120+ countries. This follows RemotePass’s initial seed investment and comes as the start-up is ramping up efforts to further enhance and streamline the process for companies to onboard and pay their remote teams globally. The investment will serve primarily for geographic expansion and building more efficient infrastructure.
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