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 customersPersonal/Business Account
Regulators/ComplianceOxygen 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 costPersonal Account: Free
Openning a current account (business and personal)Free
Monthly feesNo
Money transfers/paymentsPersonal Account: No ACH bank transfer fees
OverdraftsPersonal Account: No overdraft fees
OtherCashback rewards on everyday purchases
Minimum USD deposit required to open (a) a personal account (b) a business accountPersonal Account: No miminum balance fees
(a) a personal accountYes
(b) a business accountYes

Key people

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 licenseBanking 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 investors1
Names of lead investorsRuna Capital

Tech stack

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Reviews