Oxygen, a San Francisco, CA-based digital banking service offering free banking services and flat-fee, zero-interest credit lines to freelancers, raised $2.3m in funding.
– Digital Horizon Capital;
– Cynthia Chen, investor, advisor, executive and board member for several U.S.-based fintechs and now co-founder and Chief Risk Officer at Figure;
– ZMT Capital (China);
– Locus Ventures;
– Endure Capital;
– Magic City;
– Light Bridge;
– Strawberry Creek;
– Base Ventures;
– The House Fund and
– Sam Yam, co-founder of Patreon.
The company intends to use the funds to expand the team and accelerate business growth.
Led by Hussein Ahmed, Founder and CEO, Oxygen tracks freelancers’ bills, projects their income and offers instant credit. The service is accessible through its mobile banking app which is already available in both iOS and Android versions.Users can purchase Oxygen Premier and pay a monthly flat fee to access a full range of free banking perks and a flat-fee, zero-interest line of credit.