# Oxygen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/oxygen

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.getoxygen.com
- Total disclosed funding: $39M
- Latest round: Series B (Feb 2, 2023)
- Investors on record: 19

## About

Oxygen, Inc. is a fintech company focused on providing innovative financial solutions for small businesses and entrepreneurs, particularly targeting millennials engaged in the gig economy.Founded in 2017 and headquartered in San Francisco, US, Oxygen, Inc. operates as a fintech platform designed to empower small and medium-sized businesses. The company's founder, David Rafalovsky, has a history in entrepreneurial ventures. In February 2023, Oxygen raised USD 20.00 mn in Series B funding, which was co-led by the company's management and 1984 Ventures, Possible Ventures, Room40 Ventures, and Y Combinator, bringing the total amount raised to USD 20.00 mn. The company has completed a total of 4 deals, with its most recent deal taking place on 2023-02-02.Oxygen's core offerings revolve around its fintech platform, which is tailored for small businesses and entrepreneurs, particularly mid-to-high income millennials involved in the gig economy. Originally launched as a neobank, the platform provides essential banking services aimed at facilitating financial growth and management. Key features include financial products that assist in cash flow management, lending opportunities, and expense tracking, specifically designed to tackle the challenges faced by its clientele. Oxygen operates primarily in the US, focusing on urban areas with a high concentration of young professionals and entrepreneurs, while also expanding its customer base through strategic partnerships.Oxygen generates revenue through transaction-based income from its financial services. This includes fees from financial products such as transaction fees and interest from lending services. The company's transaction structure typically involves direct relationships with consumers, allowing users to engage with the platform for various financial services. While specific pricing plans are not disclosed, tiered pricing likely corresponds to the range of services used, with flagship products contributing significantly to overall revenue by meeting the financial needs of its users through well-structured transactions.Following its recent funding round in February 2023, which raised USD 20.00 mn, Oxygen plans to utilize these resources to expand its product development and enhance its team. The company is actively working on launching new products geared towards improving its offerings in the fintech space. Additionally, Oxygen aims to enter new markets by targeting urban areas beyond its current operational bases, focusing on regions with similar demographics to further penetrate the millennial market segment.

## Funding rounds

- Series B, Feb 2, 2023, $20M — Y Combinator, Room40 Ventures, 1984 Ventures, Possible Ventures
- Series A, Dec 21, 2020, $17M — Runa Capital, Y Combinator, Alumni Ventures Group, Inventures, Room40 Ventures, 1984 Ventures, EFG Hermes, S7V, VU Venture Partners
- Seed, Jan 29, 2018, $2.3M — Runa Capital, Y Combinator, Base Ventures, DHVC, Alumni Ventures Group, Endure Capital, The House Fund, VentureSouq, Room40 Ventures, Pioneer Fund, Locus Ventures, ZMT Capital, Light Bridge Ventures

## Investors

- Runa Capital (https://capitalatlas.ai/funds/runa-capital) — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A, Series B
- Base Ventures (https://capitalatlas.ai/funds/base-ventures) — Seed
- DHVC (https://capitalatlas.ai/funds/dhvc) — Seed
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Seed, Series A
- Endure Capital (https://capitalatlas.ai/funds/endure-capital) — Seed
- The House Fund (https://capitalatlas.ai/funds/the-house-fund) — Seed
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Seed
- Room40 Ventures (https://capitalatlas.ai/funds/room40-ventures) — Seed, Series A, Series B
- Pioneer Fund (https://capitalatlas.ai/funds/pioneer-fund) — Seed
- Locus Ventures (https://capitalatlas.ai/funds/locus-ventures) — Seed
- ZMT Capital — Seed
- Light Bridge Ventures (https://capitalatlas.ai/funds/light-bridge-ventures) — Seed
- Inventures (https://capitalatlas.ai/funds/inventures) — Series A
- 1984 Ventures (https://capitalatlas.ai/funds/1984-ventures) — Series A, Series B
- EFG Hermes — Series A
- S7V — Series A
- VU Venture Partners (https://capitalatlas.ai/funds/vu-venture-partners) — Series A
- Possible Ventures — Series B