RemotePass, the global employment, payroll, and spend platform, closed a $17.4 million Series B round on May 20, 2026, to push into European and U.S. markets.
The Dubai-founded company said it reached profitability in early 2025, making it an outlier in a sector where most competitors still run on negative unit economics.
How EBRD’s Backing Shifts RemotePass’s Market Reach
EBRD Venture Capital, the venture investment arm of the European Bank for Reconstruction and Development, led the round. 500 Global joined as a new strategic investor.
Returning backers Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures also participated.
EBRD’s involvement is notable. The institution focuses on high-growth technology startups across Europe, Central Asia, the Middle East, and North Africa.
Its entry gives RemotePass both capital and access to institutional networks in markets the company is targeting next.
The round brings total funding to roughly $23 million, counting the $5.5 million Series A that 212 VC led in March 2024 and earlier seed capital from BECO Capital and Wamda Capital.
What RemotePass Sells, and Who Already Buys It
Founded in 2021 by Kamal Reggad and Karim Nadi, RemotePass lets companies hire, pay, and manage employees and contractors across borders without setting up local legal entities.
The platform covers Employer of Record services, contractor management, cross-border payroll, and compliance across more than 150 countries.
On top of that, it gives workers USD accounts, global payment cards, and health insurance. That fintech layer is what separates the company from HR-only peers.
The platform now serves more than 35,000 workers and has processed over $800 million in cross-border payroll (both figures are company-reported). Named customers include Logitech, Tata Group, InDrive, Careem, and Tabby.
From Payroll to Spend: The SpendCards Launch That Changed the Product
In late 2025, RemotePass launched SpendCards, embedding corporate expense cards directly into the same system used to run payroll. The product collapses payroll, contractor payments, and expense management into one platform, regardless of where workers are based or how they are employed.
The company has also deployed AI agents to automate onboarding, compliance checks, and support functions, adding capacity without proportional headcount growth.
“This round is about acceleration,” said Kamal Reggad, CEO and co-founder. “We have the product, the traction, and now the partners to expand properly. Hiring is just the entry point. What companies actually need is a platform that supports their teams end-to-end, including the financial services that make distributed work function.”
Where the $17.4M Goes From Here
RemotePass said the capital has three stated uses: broaden its commercial presence across Europe and the U.S., deepen investment in financial infrastructure products for distributed teams, and push forward its AI roadmap.
Europe and the U.S. are already the company’s fastest-growing markets. The company said businesses in those regions turn to it specifically to reach workers in geographies where larger incumbents, such as Deel, Remote, and Rippling, have thinner coverage or higher pricing.
No specific milestone dates or product launch deadlines were disclosed in the announcement.
The company did not respond to a request for additional comment at the time of publication.
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