Remofirst Emerges out of Stealth to Fix Payroll for Remote-first Teams

Remofirst, an employer of record provider, announced a $14.1 million Seed round, as it came out of stealth.

The round was led by two leading fintech investors – 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.

Fueled by the global pandemic and a proliferation of tools for remote work, Remofirst CEO Serik is leveraging his product experience in building a payroll engine for an on-demand job search platform. Using his personal experience as a remote worker, Serik created a platform that allows companies and employees to work and hire from anywhere while staying on top of payroll and HR compliance globally with a few clicks.

While there are several existing players in the global HR space, Remofirst  fills a crucial gap with current market conditions. It aims to make it simple for customers to understand what they are paying for and why, while also offering customer support.

Remofirst has seen traction since launching its initial product in early 2021, with a client list including Fortune 500 companies worldwide. It also had zero customer churn within the first year indicating a great customer experience.

Remofirst raised a $275,000 pre-seed round in early 2021 and become fully profitable in less than a year. That success and profitability helped drive significant investor interest and raise the largest seed round in just two months in a competitive and well-funded space.


Photo: Business Wire – Nurasyl Serik, co-founder and CEO at Remofirst