Ghanaian fintech startup Float, a cash flow management and spend platform for businesses in Africa, has closed a US$17 million round of debt and equity seed funding to speed its development and launch new products. Float provides credit lines to small businesses, as well as tools to manage business accounts and wallets in one dashboard, and tools to automate bills, vendor and supplier payments, and invoice collections. To put it simply, it aims to serve as a “financial operating system” for businesses. Since its launch six months ago, the startup has onboarded hundreds of customers in a wide range of industries, and it now plans quicker growth after banking a US$17 million seed round. The round was led by Tinder co-founder Justin Mateen’s JAM Fund and Tiger Global, with debt financing provided by Cauris.

Source: The North Africa Journal January 19, 2022 06:29 UTC