Remofirst Raises Funds to Help Companies Build Remote Teams

Remofirst, an employer of record provider, has announced a $14.1 million seed round, a press release said.

The company helps other companies build global remote teams, letting them hire talent in countries where they don’t have an entity. The services include onboarding, payroll benefits, taxes and local compliance.

Remofirst’s goal is to make it simpler for customers to understand what they’re paying for and why. The company was founded by CEO Serik, who had experience working as a remote worker and wanted a platform for companies to work and hire from anywhere, and also do work with payroll and HR compliance.

“We are passionate about helping our clients build global teams and we want to enable freedom of work,” Serik said. “In order to make that a reality, we felt that it shouldn’t be cost-prohibitive for companies to access local hiring tools, support and expertise around the globe. That is a core tenet of what we’re building at Remofirst and the feedback from customers has proven we are onto something.”

The round was co-led by Mouro Capital and QED Investors, both of which are fintech investors. Counterpart Ventures also participated.

Remofirst also had a $275,000 pre-seed round in early 2021, and became fully profitable in under a year, the release said. The company recently added to its leadership team and plans to announce a new product update soon.

In other news related to remote work, PYMNTS wrote recently that data from its September edition of The Connected Economy Monthly Report found that CFOs’ jobs are being affected by the new shifts to working remotely.

Read more: Remote Workers’ Changing Preferences Influence CFO Policies

The CFOs already had a lot to think about regarding technology and data, and the planning now needs to look more at investments in tools to retain talent that works from anywhere.

This comes as 13 million more workers have either worked remotely from outside their homes, worked on vacation or built businesses online, moreso than they were doing nine months ago, the study found. But 7 million fewer were working from home — which PYMNTS wrote means that some workers are returning to the office, though perhaps in hybrid situations where they only spend a few days a week in the office.

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