Float offers emerging credit consumers open-ended credit lines of $50 to $1,000 that can be accessed instantly with their existing debit cards. Its platform leverages machine-learning models and real-time transactional data to assess creditworthiness without relying on traditional FICO scores, enabling rapid, personalized underwriting decisions. Users pay a flat 5 % transfer fee with no hidden costs, interest or APRs, positioning the product as an affordable alternative to payday loans and overdraft fees. The company currently serves customers in California and Utah and plans to expand to all 50 states within the next six to twelve months. Led by co-founder and CEO Max Klein, Float is channeling recent funding into product development, marketing and strategic partnerships to support nationwide rollout. No revenue or user figures were disclosed in the article.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2017