South Africa’s Float Raises $2.6M to Scale Card-Linked Credit Platform
South African fintech Float, a card-linked instalment platform, has raised $2.6 million (R46 million). The funding will be used to accelerate..
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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.
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Tech Firms Announce Strategic Expansions Across Africa - September 2025
Several companies have announced strategic moves aimed at expanding their services across Africa. CMC Networks appointed Mahesh Jaishankar as its new Managing Director to lead the company's expansion of AI-powered connectivity solutions across Africa and the Middle East. In the fintech sector, South African company Float raised $2.6 million (R46 million) to support its local growth and expansion into new markets for its card-linked instalment platform. Additionally, payments platform Verto launched Atlas, a new suite of API-first tools designed to simplify cross-border payments for businesses operating on the continent. Verto's new APIs aim to address challenges like differing regulations and volatile currencies that hinder digital businesses in Africa.
