Oxygen

History

2023: Co-owner and CEO - David Rafalovsky

The American digital banking platform Oxygen in February 2023 announced that David Rafalovsky became the main owner of shares in^[1]. In this status, he replaced the founder of Oxygen Hussein Ahmed (Hussein Ahmed). Read more here.

2021: Raising $17 million in investments

In mid-January 2021, the Oxygen digital banking platform raised $17 million in a Series A funding round. Runa Capital, S7V, 1984.vc, EFG Hermes, Rucker Park, Inventions and other investors invested in the company's development.

Oxygen provides flexible banking solutions for both consumers and small businesses that need modern financial solutions. Since launching in January 2020, Oxygen has opened over 125,000 accounts and increased its primary revenue by more than 969 times. The banking platform does not impose restrictions on the minimum balance and does not require a monthly commission when using both consumer accounts and small business accounts.

Runa Capital and S7 Group fund invested in fintech company Oxygen

Oxygen CEO Hussein Ahmed (Hussein Ahmed) notes that the company continues to attract investment due to the rapid growth and high interest of customers. As well as offering an attractive suite of products, the company has formed partnerships with leading companies such as Visa by joining their Fast Track program.

Frank Strauss, a longtime retail executive at Deutsche Bank and former CEO of Deutsche Postbank Bank, who participated in the round and will serve as a strategic adviser, believes Oxygen can deliver the right solutions at the right time and is ready to take advantage of market opportunities in financial services.

The company plans to use the latest round of funding to expand its team, accelerate growth and further build "best-in-class" banking products for individual consumers, as well as banking offerings for small and medium-sized businesses.^[2]

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