Digital Bank Oxygen Raises $17 Million via Series A Fund

​Oxygen, a digital banking platform based in San Francisco, announced the closure of its Series A round of funding, raising $17 million to scale its team, accelerate growth, and continue to build best-in-class consumer and SMB banking products.

The company said that the participants of the round include Runa Capital, S7V, 1984.vc, EFG Hermes, Rucker Park, and Inventures. Furthermore, celebrity and prominent fintech investors also provide support to the bank, including Frank Strauss, Global CEO of the Private & Commercial Bank for Deutsche Bank AG, Ankur Nagpal, Founder and CEO of Teachable and so on.

Launched in January of 2020, the bank offers its customers flexible banking solutions, all-in-one banking app and better consumer banking experience. It has seen a rapid growth in the recent month, surpassing 125,000 accounts opened and over a 969X revenue increase.

Hussein Ahmed, Oxygen CEO commented:”We are humbled that our investors are putting their faith in us with this most recent round of funding. This investment not only validates what we've built but also enables us to continue pursuing our vision of building financial tools that integrate seamlessly with the digital world of today and delight our customers.”