Oyster bags $4.2m in seed round led by Connect Ventures

HR and employee benefits platform Oyster has bagged $4.2m in its seed round which was led by UK venture capital firm Connect Ventures.

Other contributions to the round came from Sorenson Ventures, Kima Ventures, Transferwise co-founder and chairman Taavet Hinrikus, among others.

The FinTech enables companies to streamline hiring process, manage payroll and offer their employees a selection of benefits.

Oyster gives companies a payroll service which is compliant with local payroll regulatory requirements in every country, it claims. The platform also offers a range of benefits from healthcare to cookies on their birthday.

Connect Ventures general partner Pietro Bezza said, “We are excited to partner with Tony and Jack at such a decisive moment for the future of work.

“In the wake of COVID-19, work from home is going to be even more pervasive, and both companies and individuals are going to want to look to the whole planet for talent and job opportunities, respectively. But the experience of international hiring is currently broken. Oyster is pairing the infrastructure and software necessary to reduce the friction, building a SaaS product that talents and employers will love.”

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