Back to all companies
Sign in
Back to all companies
Floatpays Inc logo

Floatpays Inc

Summer 2021Active

On-demand wage access service built for the African market

Save
Floatpays Inc logo

Floatpays Inc

Summer 2021Active

On-demand wage access service built for the African market

Save
Company details

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.

Location
Cape Town, WC, South Africa; Remote
Founded
Unknown
Category
Fintech
YC Directory Pagewww.floatpays.com
Founder
  • SW
    Simon Ward
    Founder
    LinkedIn

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.

Location
Cape Town, WC, South Africa; Remote
Founded
Unknown
Category
Fintech
YC Directory Pagewww.floatpays.com
Founder
  • SW
    Simon Ward
    Founder
    LinkedIn
Pro

Upgrade to Pro, then request the Floatpays Inc teardown.

This company does not have a completed analysis yet. Choose a Pro plan first, then use one of your 5 monthly research requests to have our agent investigate Floatpays Inc. The full teardown, rebuild plan, and technical specs unlock when it lands.

  • Use Pro to request the first Floatpays Inc teardown and keep the finished report in your account.
  • Read every completed teardown and rebuild plan already in the database.
  • Unlock implementation-ready technical specs and 5 fresh research requests each month.

Choose your Pro plan

$20/ month

Find one worth rebuilding, get the teardown, open the implementation-ready specs, and use fresh report requests when you want deeper research.

See Pro plans
Full teardown library
Specs for every company
5 fresh requests / month
CLI for agent imports
Startups.RIP — Dead startups, alive ideas
PricingContactPrivacyGot feedback? DM @oscrhong