Floatpays Inc
On-demand wage access service built for the African market
About Floatpays Inc
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.
Company details
Funding
Total raised
$4.1M
Last stage
Seed
Investors
Founders
Simon Ward
I am a passionate technologist and product builder. I get my energy from building products that disrupt existing markets and make a positive impact on how we live our lives. My experience includes 25 years as an entrepreneur and business leader in the fintech and eCommerce business verticals. I have worked globally and been fortunate enough to be part of a few business exits along the way. Brands include Play.com, Rakuten, Moonpig.com, Photobox.com, Prodigy Finance and most recently Floatpays.
What happens next.
No applications, no recruiter spam. Just the intro.
Confirm the fit
A few questions to make sure this role is the right shape for you. Two minutes.
I pitch you to the company
I write the intro, send it to the founder, and handle the back-and-forth.
A meeting lands on your calendar
If they’re a yes, I book the chat. You show up — that’s the whole job-hunt.