Floatpays Inc
New accelerator entry · 2021-06-23 · the record
In their words
Floatpays is an on-demand wage access platform that helps employees access, spend, save and manage their money. The problem we are solving is that more than 75% of the 12 million employed South African’s run out of money before the end of the month, 52% of those end up borrowing money to survive. Informal lending is the only option for most borrowers, with interest rates anywhere between 30-50%. The story is the same in most African countries where payday/micro-lending has become the norm amongst lower-income earners. Our app features include financial education, a budget planning tool, cash access, and voucher purchases all from wages earned but unpaid. We are currently working on a savings product to promote long-term financial resilience. We launched our product in South Africa in July 2020 and plan to extend our reach into additional African countries in 2022 and beyond.
What the record says
The full profile
Source Check, INVEST, RECRUIT and Press Requests on Floatpays Inc
- Source Check — verify what Floatpays Inc states, against the registers that hold it.
- INVEST — size up this company on the figures its record states.
- RECRUIT — see who is already on the team.
- Press Requests — connect with Floatpays Inc for a story.
You land back on this company when you are in.
Not ready to upgrade? Keep this one in view instead.
Watchlist Floatpays IncYou get an alert in MentionFox the next time this company shows up.
Is this you?
If you're behind Floatpays Inc: acceptance into a YC batch is one of the few weeks a young company gets looked up by people who matter — investors, other founders, press. FoxPlug turns the commits, deploys, and releases you're already making into that story automatically, so anyone who looks finds something current. FoxChat puts a guide on your own site so the people YC's own page just sent you don't read one line and leave.
Sourced from the company's Y Combinator directory entry.