Oyster Financial
“Can an EOR-first HR platform become the compliance and payroll backbone for globally distributed workforces?”
Founded2019
HQCharlotte, NC, United States (distributed)
FoundersTony Jamous, Jack Mardack
Total raised~$220M+
Latest roundLater Stage VC, $5M (per PitchBook)
Valuation$1B+ (unicorn, 2022 Series C)
IndustryHorizontal SaaS / HR & Payroll
The story
Oyster is a distributed HR / Employer of Record (EOR) platform founded in 2019 to help companies hire, pay, and provide benefits to full-time employees globally. Its embedded finance footprint is centered on global payroll payouts and contractor payments through a network of local payroll subprocessors, rather than owning a banking or card stack. Note: 'Oyster Financial' (Mexico SME finance platform, acquired by Yaydoo) is a distinct company and NOT this target.
Last 12 months
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Product timeline
2019
Oyster founded by Tony Jamous and Jack Mardack as a distributed HR / EOR platform· pivot
2021
Series A of $20M to expand global EOR across 100+ countries· banking
2022
Series C funding round; reached unicorn status· banking
The stack
1 layer disclosed in Oyster Financial’s embedded-finance stack
Payroll
Accountor Denmark A/S
Accounting gap: none