Digital banking platform Oxygen today announced $20 million in Series B funding - led largely by return investors - and the appointment of David Rafalovsky as Chief Executive Officer (CEO). Oxygen will use the funds to increase investment in product development and user experience around its core financial technology solutions, and to expand its workforce to meet growing demand.

Oxygen is a modern financial platform designed for the 21st-century economy - providing digital natives, creators and entrepreneurs pushing everyday boundaries a seamless experience to spend, send and save across both their personal and business lives. Available on web, iOS, and Android, Oxygen members enjoy cashback rewards, early direct deposit, simple transfers and high yield savings in addition to everyday retail and travel benefits. Businesses can start and scale their operations with integrated solutions like nationwide LLC incorporation and custom invoicing that is elegant, simple and secure. Reject ordinary. Banking for the Extraordinary.