According to IBS Intelligence, the company plans to use the finance to scale its team, accelerate growth, and continue to build consumer and SME banking products. The investment round included Runa Capital, 1984.vc, EFG Hermes, S7V, Rucker Park, and Inventures, in addition to fintech investors.
Oxygen wants to provide flexible banking solutions to both consumers and small businesses seeking financial solutions. The company’s consumer and SME accounts have no minimum balance or monthly fees, are FDIC insured via a partnership with The Bancorp Bank, and come with a Visa debit card that includes cashback rewards on selected everyday spending categories and merchants.
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