EBRD backs RemotePass in EUR 16.11m round. #RemotePass funding #EBRD venture capital #cross-border payroll #remote work infrastructure #global employment fintech Deal at a glance. * Type - funding · Series B * Enterprise value - €16.1M * Original amount - USD 17.4M * Target - RemotePass * Acquirer - - * Investor - European Bank for Reconstruction and Development * Sector - Other * Region - EU * Announced - - Deal-ID: MMN-000858 Key facts. * Buyer - European Bank for Reconstruction and Development * Target - RemotePass * Sector - Other * Geography - EU * Deal volume - €16.1M * Date - - This is a signal bet on cross-border employment infrastructure as fintech and global hiring continue to converge. RemotePass has secured EUR 16.11 million in a funding round backed by the European Bank for Reconstruction and Development (EBRD), according to a recent announcement. The company is based in Great Britain. No further deal terms were disclosed. While the round is modest in absolute size, the participation of a multilateral institution is notable. EBRD's involvement typically comes with a clear expectation: capital should translate into operational scaling, governance discipline, and measurable expansion rather than experimentation. For RemotePass, that raises the bar on execution. What MidMarketNow know. * Target: RemotePass * Deal type: Funding * Amount: EUR 16.11 million * Investor: European Bank for Reconstruction and Development * Country: GB * Timing: Recently announced Why this matters. Remote hiring has moved from a tactical HR workaround to a permanent operating model for many employers, but the underlying rails remain fragmented. Companies managing distributed workforces face recurring pain points: hiring compliance across jurisdictions, contractor versus employee classification, payroll and benefits administration, and the movement of funds across borders. RemotePass sits in the middle of that convergence between employment and financial workflows. The strategic logic for an investor like EBRD is straightforward: platforms that reduce friction in cross-border employment can become embedded in customers' processes, with recurring usage tied to payroll cycles and workforce growth. Execution risks to watch. With limited public detail on this round, the main questions shift to execution: * Regulatory complexity. Cross-border employment and payments touch labour law, tax, and financial compliance. Expanding into additional jurisdictions can create a compliance backlog if product and legal capacity do not scale in lockstep. * Churn and price pressure. Employer-of-record and global payroll markets are competitive. If switching costs are lower than expected, customer retention and net revenue expansion become the key indicators. * Operational scalability. The hardest part of these models is often the service layer: onboarding, local partners, support, and exception handling. Funding helps, but process maturity matters more than headcount. Outlook. EBRD's EUR 16.11 million commitment gives RemotePass additional runway to invest in product, compliance and go-to-market. The next proof points will be whether the company can deepen its footprint with existing customers and expand geographically without sacrificing service quality or governance. For the market, the deal reinforces a broader reality: as global hiring normalises, the winners will be the platforms that combine employment compliance with reliable financial operations, and can scale both at the same pace. Companies & investors in this story.

RemotePass raises $17.4 million Series B funded by EBRD Venture Capital as global employment and fintech converge. May 20, 2026, 20:56 ET Profitable in 2025, the global HR, payroll, and expense management platform expands in Europe and the United States, with new investments in commercial expansion, AI, and embedded fintech. LONDON, May 20, 2026 /PRNewswire/ - RemotePass, a global employment, payroll, and expense platform, has raised $17.4 million in Series B funding led by EBRD Venture Capital (EBRD), with participation from 500 Global and existing investors such as Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures. This round comes at a pivotal time as global employment and fintech converge and as clients increasingly seek a single platform that manages both types of activities. Europe and the United States are already two of RemotePass's fastest-growing markets, with companies turning to the platform to hire, pay, and support workers in geographies where incumbents have limited reach or experience. This new capital will allow the company to expand its commercial presence in these markets, deepen investment in financial infrastructure for distributed teams, and accelerate implementation of its artificial intelligence roadmap. RemotePass achieved profitability in early 2025, driven by strong underlying economics. The company then deliberately decided to reinvest in expansion, partnering with the EBRD and 500 Global as strategic partners for the next phase. The company has scaled to over 35,000 workers across more than 150 countries and facilitated over $800 million in cross-border salaries, with a fraction of the capital raised by category leaders. "This round is an accelerator," said Kamal Reggad, CEO and co-founder of RemotePass. "We have the product, the momentum, and now the partners to scale properly. Hiring is just the start. What businesses need is a platform supporting their teams end-to-end, including the financial services that make distributed work possible." Founded in 2021 by Kamal Reggad and Karim Nadi, RemotePass solves a problem that incumbent operators have largely ignored: hiring, paying, and supporting workers across borders where local entity setup, compliance, and banking infrastructure remain truly broken. The platform is used by clients including Logitech, Tata Group, InDrive, and Careem. It covers employer of record (EOR), contractor management, payroll and compliance, as well as a fintech layer that gives workers access to USD accounts, global cards, and health insurance. In late 2025, RemotePass launched SpendCards, integrating corporate expense cards into the same platform that pays staff - aggregating salaries, contractor payments, and expenses into a single system, regardless of where the worker is located or their employment terms. Expense management remains one of the most persistent operational pain points in cross-border setups, forcing finance teams to rely on separate vendors. The company also introduced AI agents that automate workflows in onboarding, compliance, and support. "RemotePass uniquely integrates global financial and payroll products into a single AI-driven experience. The solution reduces friction for employers operating in emerging markets while creating real economic opportunity for tens of thousands of workers. The company has reached significant scale with a fraction of the capital that other players in the same category have raised, a sign of the execution discipline displayed by Kamal and his team. This is exactly the type of company we wanted to support: a team building a leading platform in an emerging market, with product depth and commercial momentum that will enable it to compete in Europe and the United States. We look forward to supporting them in their next phase of growth," said Amine Chabane, Director of Venture Capital at the EBRD. "RemotePass has built a robust platform connecting workforce management and fintech in a single integrated stack. The emerging-market depth, the embedded fintech layer, and early AI investments create structural advantages that are hard to replicate. We have backed this exceptional team because they are building world-class infrastructure to solve a big problem, at a time when more and more companies are deploying their workforce across borders," said Amjad Ahmad, Managing Director at 500 Global. The Series B will fund expansion in Europe and the United States, deepen compliance coverage, and continue investments in the financial product surface and AI capabilities that have become defining features of the platform.