Find global talent to work remotely

Nurasyl Serik (left) and Volodymyr Fedoriv co-founded human resources startup Remofirst - Photo: Remofirst

The jobs posted on the platform demonstrate that the demand for global tech talent is still strong. International talent is necessary, but it often presents problems. Companies often need to have a physical presence in each country, ensure contracts are in the right legal format, and more.

Nurasyl Serik (Kazakhstan) and Volodymyr Fedoriv (Ukraine) met while studying in the UK and co-founded Remofirst with the goal of easing that burden for businesses, reaching eight figures in revenue by 2023. Both were included in the Forbes 30 Under 30 list in 2024, technology business category.

Large companies like Microsoft, Mastercard, and Zocdoc hire new employees using a traditional process.

Now, they can hire a software engineer candidate who lives in Nepal instead of rejecting him just because they don’t have an office in the country. And Remofirst will pay the employee’s salary in Nepalese currency every month on behalf of the company.

"We've seen a lot of companies trying to cut their workforce by 2023, but Remofirst isn't like that," said Nicholas Sando, head of venture capital firm Octopus in London, adding that it won't be long before remote hiring becomes the norm and companies like Remofirst look more like traditional payroll companies.

Several startups offering similar solutions have raised hundreds of millions of dollars in additional funding. Venture capital funds are funding this market as companies look to diversify their workforces and reduce labor costs, says Derek Hernandez, an analyst at venture capital firm Pitchbook. In other words, hiring workers overseas can be cheaper because salaries are paid in local currencies.

COVID-19 normalized the remote work trend, Serik and Fedoriv launched Remofirst in 2021.

When the company was founded, the founders had not attracted much venture capital. While competitors charged customers monthly fees of $599 and up per employee, Remofirst’s fees started at $199.

To solve the cross-border payment challenge for companies, San Francisco-based Remofirst works with local legal and HR professionals in hundreds of countries who help facilitate payments, build regionally tailored benefit plans, and handle legal issues on behalf of companies.

Much of the market is still hiring the old-fashioned way, and there is plenty of room for Remofirst and its competitors to grow. With the $25 million it just raised, the company is looking to market itself to more international clients and hire new executives.

The company’s headcount has also increased to 80 from five in the funding round. Remofirst did not disclose its current valuation, but said it was in the nine figures.

Source: https://tuoitre.vn/tim-nhan-tai-toan-cau-lam-viec-tu-xa-20240920222110888.htm