RemotePass Banks $17.4M to Accelerate Global HR and Fintech Convergence

LONDON, UK – May 20, 2026 – RemotePass, a platform that integrates global employment, payroll, and financial services, has secured $17.4 million in a Series B funding round. The investment, led by the European Bank for Reconstruction and Development's venture capital arm (EBRD Venture Capital), signals a significant validation of the company's strategy to merge human resources technology with embedded finance.

The round, which also saw participation from 500 Global and existing investors Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures, will fuel the company's expansion into the competitive US and European markets. This move comes after RemotePass achieved profitability in early 2025, a notable milestone in a sector known for high cash-burn rates.

Founded in 2021 by Kamal Reggad and Karim Nadi, the company has scaled to support over 35,000 workers in more than 150 countries, facilitating over $800 million in cross-border payroll. This growth was achieved with a fraction of the capital raised by its larger competitors, a point of pride for the firm and a key attraction for its new investors.

"This round is about acceleration," said Kamal Reggad, CEO and Co-Founder of RemotePass. "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."

A Disciplined Path in a Crowded Field

The global HR technology market, projected to reach over $83 billion by 2033, is fiercely competitive. Giants like Deel, Remote.com, and Rippling have raised vast sums to capture market share as businesses worldwide adopt distributed work models. Amid this landscape, RemotePass has carved out a distinct identity through capital efficiency and a sharp focus on product-market fit.

By reaching profitability before taking on this substantial Series B, the company demonstrated strong underlying unit economics. This disciplined approach allowed it to reinvest for strategic growth from a position of strength. The Employer of Record (EOR) market segment, crucial to RemotePass's offering, is itself forecast to grow from $5.6 billion in 2025 to over $10 billion by 2035, driven by the complexities of international labor laws that make integrated platforms indispensable.

"RemotePass is uniquely integrating global payroll and financial products into a single AI-enabled experience," commented Amine Chabane, Principal at EBRD Venture Capital. "The business has reached meaningful scale on a fraction of the capital others in the category have raised — a signal of how disciplined Kamal and his team have been with execution."

The Convergence of HR and Fintech

RemotePass's core differentiator lies in its deep integration of financial services directly into its HR platform. This strategy addresses a major pain point for both companies and their global workforce: the disjointed nature of hiring, paying, and managing expenses across borders.

In late 2025, the company launched SpendCards, embedding corporate expense cards into the same system that manages payroll and contractor payments. This collapses multiple financial workflows into one, eliminating the need for finance teams to stitch together disparate software solutions. Furthermore, the platform offers workers access to USD accounts and global debit cards, providing a crucial layer of financial stability and accessibility, especially for those in emerging markets with volatile local currencies.

This fintech layer transforms the platform from a simple administrative tool into a comprehensive ecosystem that supports the financial well-being of remote workers. Customer testimonials frequently praise the platform's ability to handle multi-currency payroll seamlessly and the value of its integrated financial tools, which include features like cashback and low-fee transactions.

The company has also invested in artificial intelligence, rolling out AI agents to automate workflows for onboarding, compliance checks, and support inquiries. An "Ask AI" feature allows managers to query HR and finance data using natural language, accelerating decision-making and unlocking workforce insights.

"RemotePass has built a robust platform that bridges workforce management and fintech into a single integrated stack," said Amjad Ahmad, Managing Partner at 500 Global. "The emerging market depth, embedded fintech layer, and early AI investment create structural advantages that are hard to replicate."

From Emerging Markets to Global Contention

With its new funding, RemotePass is set to aggressively expand its commercial footprint in Europe and the United States, its two fastest-growing markets. The company's deep experience navigating the complex regulatory and banking landscapes of the Middle East and North Africa (MENA) region—where it offers dedicated Arabic-language support—is seen as a key advantage as it enters the equally complex, albeit more mature, Western markets.

Navigating the patchwork of labor laws in Europe and varying state regulations in the US presents a significant challenge for any company. RemotePass's strategy involves leveraging its proven compliance infrastructure and EOR services to act as the legal employer of record, shielding its clients from legal and administrative risks. The investment will fund deeper compliance coverage and continued product development to meet the specific needs of these new markets.

The strategic backing from EBRD Venture Capital, whose mission includes fostering growth in emerging economies and helping them compete globally, underscores the significance of RemotePass's model. By building a world-class platform from an emerging-market base, the company not only creates economic opportunity for workers in underserved regions but also develops the resilience and product depth required to challenge established players on the global stage. This Series B round provides the capital to turn that ambition into a tangible market presence.