Remote closes $11m funding round as it looks to enter 40 more markets this year

Payroll and HR startup Remote has closed its seed round on $11m as it looks to grow its operations to reach another 40 markets by the end of the year.

The investment was led by Two Sigma Ventures, with additional commitments coming from Index Ventures, General Catalyst, Liquid2, INKEF Ventures, Remote First Capital and a couple of angel investors.

Having closed the round, the company is looking to expand its onboarding platform and release its platform to forty new markets by the end of 2020. These markets will include Canada, Germany, the United States, and France.

The company has been developing a number of new tools including, reduced onboarding time for new employees to less than three minutes, paid time-off tracking, automated payments for employees and contractors, integrated expense cards and adding support for Ireland, Denmark and the US.

Remote is a HR and payroll company which helps companies in Denmark, India, Ireland, the Netherlands, Portugal, the UK and the US with their payroll needs. Its technology enables a client to hire someone from anywhere in the world and meet payroll, benefits, tax and compliance requirements from 170 countries.

The platform boasts one-click payroll, tax and benefits to streamline workflows each month.

Copyright © 2020 FinTech Global

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