South African fintech company, Float, a card-linked instalment platform, has successfully raised $2.6 million (R46 million) in funding. This capital injection will support local growth acceleration and facilitate expansion into new markets.

• Float secured $2.6 million (R46 million) in funding.
• The funding round was co-led by Invenfin and SAAD Investment Holdings.
• Float differentiates itself by focusing on optimizing existing credit cards for consumers, rather than issuing new lines of credit.
• Alex Forsyth-Thompson, Float's Founder and CEO, emphasized the funding as a vote of confidence in their approach to responsible credit usage.