South African Fintech Float Raises R46 Million to Propel Africa’s Financial Technology Leadership
- Float raised R46 million ($2.6 million) in a funding round co-led by Invenfin and Saad Investment Holdings.
- The company has processed thousands of transactions monthly across over 2,000 partner stores.
- Float enables consumers to split purchases into interest-free installments using existing credit cards.
Float's success is indicative of the burgeoning fintech landscape in South Africa, showcasing the potential for local companies to innovate and compete on a global scale. The emphasis on responsible credit usage and integration with existing banking systems is a model that could be replicated in other emerging markets, making it a topic worth exploring further.
