Ghanaian fintech startup Float raises over $15 million for African commerce

Ghanaian fintech startup Float raised over $15 million in equity to expand its capacity and cultivate its geographical reach.

The initial seed was in parts; $7 million equity and $10 million debt. The investment brought in Big Tech Business Giants such as Cauris, Tiger Global and JAM Fund, which is the investment firm of Tinder co-founder Justin Mateen. Venture capital firms such as Kinfolk, Soma Capital, Ingressive Capital, and Magic Fund were also involved in the seed.

A couple of angel investors also took part: Y Combinator CEO Michael Seibel, Sandy Kory of Horizon Partners, Ramp founders Karim Atiyeh and Eric Glyman, Gregory Rockson of mPharma and Dutchie founders Zach Lipson and Ross Lipson.

Float’s primary deliverable is to give flexible credit lines for small and medium businesses and startups to cover cash flow gaps. The Ghanaian company also provides software tools for businesses to manage accounts and wallets in one dashboard, as well as automate bills, vendor or supplier payments, and invoice collections. The company aims to serve a primary financial incubator and growth plug Africa’s present and emerging small and medium businesses.

Founded in 2020 by Jesse Ahin Ghansah and Barima Effah, Float is setting up to be the next big fintech giant on the continent. The lending platform doubles up by offering invoice advances, payment links and budget management for businesses that need them.

This is an amazing feat and we cannot wait to witness the impact and empowerment Float is poised to pervade across the continent.





Meet the 19 African creatives who made it into Manju Journal's #CreativeClassof2019

The platform which is dedicated to celebrating and highlighting young creative talents through contemporary African fashion, music, photography, and society made the announcement at the end of 2019 amidst raving reviews and mixed reactions.

This is mental: Ghana’s growing mental disorder problem

According to WHO and the Ghana Mental Health Authority, an estimate of 3.1 million Ghanaians have one form of mental disorder or another with...

Meet the Mawuli twins, Japanese basketball olympiads with Ghanaian roots

Ghana's team may not be competing in basketball at the Tokyo2020 Olympics but all eyes are on the Japanese Mawuli twins of Ghanaian ancestry....

Hamamat Montia is re-branding the popular staple Gari to give it a global appeal

Gari has no advert running but sells more than some of the world's super food brands.

The Burial of Kojo and Azali are the first Ghanaian movies to be selected for the Golden Globes and Oscars

The Burial of Kojo and Azali are the first Ghanaian movies to be selected for the Golden Globes and Oscars