The round was spearheaded by 212 VC, with contributors from the US, Europe, and the Middle East, such as Endeavor Catalyst, Oraseya Capital, Khwarizmi Ventures, Flyer One Ventures, Access Bridge Ventures, A15, and Swiss Founders Fund. With the cash injection, RemotePass’s total raised funds now exceed $10 million, adding to previous investments from BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs.

“Witnessing RemotePass’s remarkable product growth and stellar customer service since early 2023 solidified our belief in their visionary team & business model [which] positions them as game-changers in the UAE & KSA, hubs poised for global dominance,” said Ali Hikmet Karabey, Managing Director for lead investor 212 VC.

Established by Kamal Reggad and Karim Nadi, RemotePass caters to various sectors and clients, ranging from startups to major corporations like Spotify, Logitech, and Paymentology. The platform facilitates onboarding, management, and workforce payment in countries where companies lack local legal representation. RemotePass also allows the hiring of full-time employees and contractors across 150+ nations.

“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,” explained Kamal Reggad, CEO and Co-Founder of RemotePass.

Also Read: Top 10 Best Freelance Platforms In The Middle East

Amidst the evolving global remote work trend, RemotePass has positioned itself as a leader, notably making significant gains in the MENA region. The platform is accompanied by a comprehensive “super app” delivering financial services and tailored benefits for remote workers, including varied payout options, a USD debit card, and access to premium health insurance.

Initially conceived in 2019 as a SaaS platform for business travel, RemotePass’s founders, being remote work advocates, transitioned to address the challenges of remote team management, particularly in emerging markets. The pivot, catalyzed by the COVID-19 pandemic, enabled substantial growth for the company, with a remarkable 35% month-over-month increase in the first two years, predominantly propelled by client referrals.

The post RemotePass Secures $5.5M Series A Funding, Led By 212VC appeared first on Tech Magazine.

The new card service will allow users to hold funds in USD and can be used both online and offline globally, wherever Mastercard is accepted. The card forms part of the RemotePass Super App. It enables users to manage their contracts, subscribe to premium health insurance plans, track expenses, and access physical and virtual payroll cards for instant payment.

The new product offering is in line with the UAE government’s vision of attracting global talent and establishing the country as a leading hub for remote work. Through its Employer of Record services, RemotePass handles the entire relocation, visa, and insurance process for foreign companies seeking to hire and/or relocate employees or contractors in the UAE.

The UAE has become a sought-after destination for cross-border remote hiring, with companies from the US, the UK, and Saudi Arabia benefiting from access to a vast pool of highly skilled job seekers seeking full-time remote work. In addition, the UAE introduced a digital nomad visa in March 2021, allowing expatriates to reside in the country while working for their employers in their home country.

To get started with the new service, RemotePass users simply need to upload documents via the app for verification and then request a card. Once an application has been approved — usually within 48 hours — users will have complete control of their card through the mobile app, enabling them to freeze, terminate, view, and manage transactions. The RemotePass card uses 3-D Secure, which provides additional authentication for online transactions. For offline use, cardholders are required to enter their PIN for extra security.

Also Read: A Guide To Digital Payment Methods In The Middle East

“Our physical card is just one of the many ways we’re helping remote workers get the financial freedom they need to thrive. We are working with different partners to bring more localized financial services and benefits such as a reward program, advance pay and pension plans,” says Kamal Reggad, co-founder & CEO of RemotePass.

A global survey conducted by Prudential found that 42% of remote workers would consider seeking new employment if their current employer removed work-from-home options. Meanwhile, FlexJobs reported a 105% rise in searches for “remote, part-time jobs” last year, proving the need for an efficient means of receiving cross-border funds.

The post RemotePass Launches Debit Card Service For Digital Nomads appeared first on Tech Magazine.