Oxygen Raises $2.3M

Oxygen, the San-Francisco-based startup offering digital banking and lending services to freelancers and gig workers, has raised $2.3m in a seed round.

Founded in 2018, the Y Combinator-backed startup offers freelancers different services via a banking app that include bill tracking, income projections, and access to credit. Oxygen doesn’t charge credit fees, instead the company collects a monthly membership of $29.99 for users that take advantage of their credit. If users don’t use their credit then they won’t pay the monthly membership. Banking services, which include a checking account, debit card, free access to over 30k MoneyPass ATMs, and zero fees are provided by Evolve Bank and Trust.

Bottom Line: “Get Oxygen, now you can finally breathe.”