Remofirst, a company which provides services to help companies build remote teams, has raised $14.1m in seed funding.
The round was co-led by Mouro Capital and QED Investors, with participation from Counterpart Ventures.
Founded in 2021 by Nurasyl Serik and Volodymyr Fedoriv, Remofirst helps companies build global remote teams in 150 countries by allowing them to hire talent in countries where they do not have an entity. Remofirst’s services include onboarding, payroll, benefits, taxes and local compliance.
Fuelled by the pandemic and an increase in tools for remote work, Remofirst said it has seen incredibly traction since launching its initial product in early 2021.
The company’s CEO Serik is using his own personal experience as a remote worker to build a payroll engine for an on-demand job search platform. The platform allows companies and employees to work and hire from anywhere while staying on top of payroll and HR compliance globally with a few clicks.
Serik said that, although there are a number of existing players in the global HR space, Remofirst is the most cost-efficient provider which fills a crucial gap with current market conditions. The company aims to make it simple for customers to understand what they are paying for and why.
Yusuf Özdalga, QED Investors Partner, said, “Remofirst enables HR and finance managers to hire talent anywhere in the world and integrate them into their organisation remotely in the most efficient and effective manner possible, while combining the latest fintech offerings with their global employer of record capabilities.
“At QED, we are very excited to lead Remofirst’s Seed round, as we saw that the current propositions in the market left a massive opportunity for the right provider to come along with a modern tech-enabled product and a high level of customer support, all at a cost-efficient price point that could capture huge market share.”
Hibob, a tech-enabled HR platform, recently raised an additional $150m in Series D funding, bringing its total funding to $424m.
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