Challenger bank Oxygen raises USD 17 mln in Series A funding

Oxygen, a neo (challenger) bank focussing on freelancers and the gig-economy has announced raising $17 million Series A round of funding. The company plans to use the finance to scale its team, accelerate growth, and continue to build best-in-class consumer and SMB banking products.

The investment round included Runa Capital,, EFG Hermes, S7V, Rucker Park, and Inventures, in addition to celebrity and prominent fintech investors, including William Hockey, Co-Founder of Plaid, Frank Strauss, Global CEO of the Private & Commercial Bank for Deutsche Bank AG, Ankur Nagpal, Founder and CEO of Teachable, Peter Treadway, and NFL wide receiver Larry Fitzgerald.

Read more: IBS Intelligence