Oxygen

Oxygen

Digital banking platform for entrepreneurs

About Oxygen

Simplify's Rating
Why Oxygen is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

51-200

Company Stage

Series B

Total Funding

$45M

Headquarters

Princeton, New Jersey

Founded

2017

Overview

Oxygen is a digital banking platform that caters to free thinkers, rebels, and entrepreneurs. It partners with The Bancorp Bank to provide a variety of banking services, allowing it to offer financial products that are agile and tech-driven. Oxygen's services include high-yield savings accounts with a 3.00% APY on balances up to $20,000, cashback rewards of up to 6% on everyday purchases, and perks like Global Entry reimbursement and lounge access. Users can also benefit from features like round-ups and unlimited savings goals to better manage their finances. Unlike traditional banks, Oxygen focuses on the unique needs of its clientele, which includes game changers and creators, making it distinct in the digital banking market. The company's goal is to transform how people interact with their finances by providing tailored solutions that fit their fast-paced lifestyles.

YC Company
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Simplify's Take

What believers are saying

  • Oxygen raised $20M in Series B funding to enhance product development and user experience.
  • The rise of embedded finance allows Oxygen to expand its reach and user base.
  • Oxygen's integration with AI-driven advisory services enhances personalized user experiences.

What critics are saying

  • Increased competition from fintech companies could dilute Oxygen's market share.
  • Rapid technological changes may require costly updates to Oxygen's platform.
  • Potential regulatory scrutiny could lead to increased compliance costs for Oxygen.

What makes Oxygen unique

  • Oxygen offers a seamless user experience for personal and business accounts in one app.
  • The company provides high-yield savings with 3.00% APY on balances up to $20,000.
  • Oxygen partners with The Bancorp Bank, combining fintech agility with traditional banking services.

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Funding

Total Funding

$45M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Company News

Yahoo Finance
Oct 5th, 2023
Oxygen Ramps Up Leadership Team With Appointment Of Industry Veterans

SAN FRANCISCO, Oct. 5, 2023 /PRNewswire/ -- Oxygen, a leading innovator in the financial technology industry, today announced a series of executive hires. These appointments come at a time of significant transformation for Oxygen. With a commitment to strengthen its leadership team and provide cutting-edge financial solutions to the marketplace, the company continues to prioritize compliance, transparency and customer experience.Rob Brown joins Oxygen as the company's new Chief Marketing Officer. Brown will play a critical role in positioning Oxygen as a frontrunner in the fintech space. Leading the company's core marketing functions, he will enhance Oxygen's market presence and further accelerate its growth

Finsmes
Feb 3rd, 2023
Oxygen Raises $20M in Series B Funding

Oxygen, a San Francisco, CA-based provider of a digital banking platform, raised $20M in Series B funding

VC News Daily
Feb 2nd, 2023
Oxygen Scores $20M Series B Funding

Oxygen Scores $20M Series B Funding Back to HomeSAN FRANCISCO, CA, Digital banking platform Oxygen today announced $20 million in Series B funding.Digital banking platform Oxygen today announced $20 million in Series B funding - led largely by return investors - and the appointment of David Rafalovsky as Chief Executive Officer (CEO). Oxygen will use the funds to increase investment in product development and user experience around its core financial technology solutions, and to expand its workforce to meet growing demand.Oxygen is a modern financial platform designed for the 21st-century economy - providing digital natives, creators and entrepreneurs pushing everyday boundaries a seamless experience to spend, send and save across both their personal and business lives. Available on web, iOS, and Android, Oxygen members enjoy cashback rewards, early direct deposit, simple transfers and high yield savings in addition to everyday retail and travel benefits. Businesses can start and scale their operations with integrated solutions like nationwide LLC incorporation and custom invoicing that is elegant, simple and secure. Reject ordinary. Banking for the Extraordinary.(c)2011-2020 by Massinvestor, Inc

Oxygen
Aug 3rd, 2022
Oxygen launches State of the Creator Economy Report

Oxygen, a modern financial platform designed for the 21st century economy, today released its State of the Creator Economy Report, which takes a look at the booming creator economy, the people behind the content, their goals and challenges, and the technologies that are quickly changing the industry.

Oxygen
Feb 28th, 2022
Oxygen partners with TurboTax

Oxygen has partnered with TurboTax to help you get your tax refund and save up to $20 on federal products ( get discount ).

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