Float secured R208m funding from Standard Bank to facilitate the rollout of its card-linked instalment platform.

Mar 20, 2024•over 1 year ago

Amount Raised

$208 Million

JohannesburgFinancial ServicesFinanceSoftware

Investors

Standard Bank

Description

Float, a BNPL startup, has received R208m funding from Standard Bank to support the accelerated growth plans over the next four years. The funding will facilitate the rollout of its card-linked instalment platform and bolster its market position.

Company Information

Company

Float

Location

Johannesburg, Gauteng, South Africa

About

Float is transforming credit to work for shoppers, not against them. The company enables customers to split large purchases into up to 24 interest-free monthly instalments using their existing credit card limit—without interest, fees, applications, credit checks, or additional credit. For merchants, Float drives over 134% larger orders, boosts conversions, and provides direct access to 5 million pre-approved shoppers. Its fully customisable instalment solutions give merchants unmatched control and flexibility, powered by innovative technology rooted in practical yet visionary thinking. By offering shoppers a flexible, frictionless, and financially responsible way to pay, Float is helping merchants build a new economy—where buying big means paying small.

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Funding Insights

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