Oxygen
Description
Oxygen is a neo (challenger) bank. The first and only challenger in the US that offers both personal and business banking.
Overview
| Type: | Private |
| Funding Status: | Series A |
| Foundation year: | 2018 |
| Location: | San Francisco, California, United States |
| Number of employees: | 11-50 |
| Founders: | Hussein Ahmed |
| Website: | https://www.oxygen.us/ |
Target geographic market:
North America
Awards:
Oxygen won the 2018 Benzinga Best Digital Bank award
About Product/Service
| Products | Personal Account, Business Account |
|---|---|
| Core product offerings for individual/retail customers | Personal/Business Account |
| Regulators/Compliance | Oxygen is PCI DSS certified, the highest security standard in banking. Customer's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 through The Bancorp Bank; Member FDIC. |
| Product cost | Personal Account: Free |
|---|---|
| Openning a current account (business and personal) | Free |
| Monthly fees | No |
| Money transfers/payments | Personal Account: No ACH bank transfer fees |
| Overdrafts | Personal Account: No overdraft fees |
| Other | Cashback rewards on everyday purchases |
| Minimum USD deposit required to open (a) a personal account (b) a business account | Personal Account: No miminum balance fees |
| (a) a personal account | Yes |
| (b) a business account | Yes |
Funding rounds
| Last Funding Date | May 30, 2020 |
|---|---|
| Last Funding Amount | $5.5M |
| Last Funding Type | Series A |
| Total Funding Amount | $11M |
| Number of Funding Rounds | 2 |
Financials
| Banking license | Banking Services provided by The Bancorp Bank, Member FDIC. The Oxygen Visa® Debit Card is issued by The Bancorp Bank pursuance to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. |
|---|---|
| Number of investors | 21 |
| Number of lead investors | 1 |
| Names of lead investors | Runa Capital |
Tech stack
Competitors
| Founding Date | Type | Tags | |
x Starling Bank Starling Bank is a digital bank based in the UK.... | 2014 | Private | Challenger banks, fintech |
x Tinkoff Bank Tinkoff Bank is a credit card company and a first... | 2006 | Private | Challenger banks, fintech |
x Simple Simple is online banking with superhuman customer... | 2009 | Private | fintech, challenger banks |
x Onfido | 2012 | Private | Onfido |
x Amaiz Amaiz is a UK banking service that transforms the... | 2017 | Private | Challenger banks, fintech |
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