Fintech Startup Floatpays Raises USD 4 Mn Seed Funding Round

South African on-demand pay provider Floatpays has secured just under USD 4 Mn in an oversubscribed seed funding round to help it expand across Africa. Investors in the round included Global Founders Capital, Base Capital, Finca Ventures, Raba Partnership, and 4DX Ventures, and angels Alan Rutledge, Shaun Hurwitz, Youcef Oudjidane, and Olugbenga Agboola, the co-founder and CEO of Flutterwave. The new investors join existing backers Founders Factory Africa, Kepple Africa Ventures, Norrsken Foundation, and MFS Investments.

Floatpays is a technology platform that enables on-demand access to pay, seamless savings functionality, and financial education to build employee financial wellness.