Cape Town Based Fintech Start-Up Floatpays Details Its Vision Of Enabling South Africans To Achieve Financial Well-being
Cape Town Based Fintech Start-Up Floatpays Details Its Vision Of Enabling South Africans To Achieve Financial Well-being. Cape Town based fintech startup Floatpays detailed in a statement its vision of enabling South Africans to achieve financial well-being. This comes after the startup received a R15 million investment from Naspers Foundry.
Simon Ward, Founder and CEO of Floatpays, said on Naspers website, “We welcome the support of and partnership with Naspers Foundry that will enable us to fulfil our vision of enabling South Africans to achieve financial well-being. Floatpays provides much-needed access to funds to ordinary people and a growing suite of other financial services, fostering a more productive and healthier workforce with greater financial security.”
The company realises that it can now have access to resources that will enable it to achieve this vision. A lot of fintech startups have potential to grow and significantly impact society but they do not have enough capital to fund the expansion they need to get to the next level. Floatpays provides customers with real-time access to a portion of their earned but not yet paid income at any time during the month, giving them an alternative to using credit to cover unplanned expenses.
Naspers sees the potential that Floatpays has to disrupt the financial services industry in South Africa, so it is making sure that it invests and becomes part of the company’s mission. Getting people to where they can say they have achieved financial well being is something that is very difficult to do especially in a country where most people are unemployed and the one who are employed are living from paycheck to paycheck. Floatpays has taken this challenge because it wants to reach ordinary South Africans so that they can also access funds and create a productive society that has more financial security.
