Oxygen

neobanks / digital banks

FOUNDING YEAR: 2018
LOCATION: United States
Last Update: 01/05/2020

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About

Oxygen is a digital bank company which provides banking and lending services for freelancers. The company tracks their bills, projects income and offers instant credit through its mobile banking app which is available in both iOS and Android versions. It uses artificial intelligence based analysis to determine the individual freelancers’ income flows.

Focus

PRODUCTS & SERVICES

The startup offers freelancers simple access to credit through a digital banking app and a membership program which can be pulled down or paid off instantly at any time. For payday loans, The company uses AI models to provide a payback plan, including both periodic cash paybacks or tangible, feasible payback based on hours worked. It is also used to underwrite loans, which freelancers can apply for and receive without having to visit a bank or complete paperwork.

REVENUE MODEL

The company charges a monthly membership fee of $29.99 if a user draws down their credit limit.

MAIN CLIENTS

Freelancers

People

FOUNDERS

Hussein Ahmed

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Base Ventures

Cynthia Chen

Digital Horizon Capital

Endure Capital

Light Bridge

Locus Ventures

Magic Fund

PioneerFund

Strawberry Creek

The House Fund and Sam Yam.

ZMT Capital (China)

KEY EMPLOYEES:

Jonathan Consalvo (CCO)

Dianne Clapp (CRO)

Momentum

FUNDED

YES

TOTAL FUNDING

$5.5 M

DATE OF LAST FUNDING

Jan 2019

SEED & PRIOR FUNDING

$5.5 M

SEED CLOSED ON

Jan 2019

LISTED

NO

BASICS

FOUNDING YEAR:

2018

LOCATION:

United States

Views:

71 VISITORS | 102 VIEWS
LATEST FUNDING ROUND

$5.5 M

TOTAL EMPLOYEES
11-50

About

Oxygen is a digital bank company which provides banking and lending services for freelancers. The company tracks their bills, projects income and offers instant credit through its mobile banking app which is available in both iOS and Android versions. It uses artificial intelligence based analysis to determine the individual freelancers’ income flows.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

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People+
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