What Float does

Float (legal entity Swipe Technologies Inc.) is a U.S.-incorporated fintech operating a global banking and treasury platform for businesses, headquartered in New York and founded in 2020. The platform enables SMBs and mid-market companies to make instant, compliant cross-border vendor and supplier payments across 130+ countries in 30 currencies, using card, ACH, Wire, SWIFT, and local payment methods, supported by real-time transaction monitoring. Its product suite is organized around Faster Payments (the core cross-border payment rail), Boost Cashflow (flexible payment terms to manage working capital), Automate Invoicing (smart payment links and invoices across 60+ geographies), Manage Collections (zero-fee deposits of global receivables into bank accounts or wallets), and a Vendor and Supplier Management Suite that consolidates purchasing, bill, and payment data. The product is delivered through a self-serve web platform at global.float.co and mobile applications staged for iOS and Android, targeting a product-led growth motion aimed at SMB and mid-market businesses.

Underlying the product is a cloud-based multi-currency payment architecture that relies on a network of payment partners and regulated banking-as-a-service providers rather than a proprietary bank charter: USD operating accounts are provided by Evolve Bank & Trust (FDIC member), multi-currency accounts by Routefusion, and investment accounts by Atomic Invest (SEC-registered, custodied at Pershing Advisor Solutions / BNY Mellon). This stack lets Float ship regulated financial products (multi-currency accounts, payments, treasury) without direct banking or broker-dealer licensing, while shifting compliance and capital requirements to its partners. The technology differentiators emphasized in marketing are integration/interoperability (breadth of currencies, countries, and payment methods) and ease of use (self-serve onboarding, smart invoicing).

Float makes money primarily through two streams: (1) transaction fees on domestic and international payment processing across card, ACH, wire, SWIFT, and local payment methods, and (2) recurring/subscription-style revenue from multi-currency account services. Public pricing is not disclosed, and the company has not released revenue, ARR, or GMV figures. It has raised approximately $7.15M in equity across a 2020 Y Combinator round and a January 2022 round led by JAM Fund and Tiger Global Management (with Flucas Ventures, Ingressive Capital, Kinfolk Venture Capital, MAGIC Fund, and Soma Capital), plus a $10M debt facility led by Cauris Finance in January 2022. Note: the source data also references separate Ghanaian and South African fintechs operating under the "Float" name; this analysis focuses on the U.S. entity, Swipe Technologies Inc., which is the company whose firmographics, founder (Jesse Ghansah), and float.co website are documented.

Name

Float

Legal name

Swipe Technologies Inc.

Website

https://float.co

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Float (Swipe Technologies Inc.) is a US-based fintech platform that enables SMBs and mid-market businesses to make instant multi-currency vendor payments across 130+ countries in 30 currencies, complemented by invoicing, collections, and vendor management tools.

Ownership category

akta.pro rank

Product category

Cross-Border B2B Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)

akta.pro secondary industry

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Global vendor payments
• Multi-currency business accounts
• Cross-border B2B payments
• Business treasury platform
• International supplier payments

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Payment Processing Fees: Fees charged on domestic and international payment transactions including card payments, ACH, wire transfers, SWIFT, and local payment methods
2. Multi-Currency Account Services: Revenue from providing multi-currency accounts enabling businesses to hold and transact in multiple currencies (EUR, CAD, GBP, USD, YUAN, YEN)

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Float is a global banking and treasury platform that enables businesses to make instant, compliant payments to domestic and international vendors and suppliers across 130+ countries in 30 currencies (EUR, CAD, GBP, USD, YUAN, YEN). The platform supports multiple payment rails (card, ACH, Wire, SWIFT, local payment methods), offers flexible payment terms to improve business cash flow, automates invoicing and payment links for collections across 60+ geographies, and provides a centralized vendor and supplier management suite for purchasing, bill, and payment data.

Product overview

Float is a financial technology platform offering a unified suite of global vendor payment services. The core platform centers on Faster Payments, which enables instant international transfers to 130+ countries in 30 currencies, supplemented by Boost Cashflow for flexible payment terms, Automate Invoicing for payment link and invoice creation across 60+ geographies, and Manage Collections for fee-free revenue deposits. The platform also includes a Vendor and Supplier Management Suite for consolidated payment data operations. Supported currencies include EUR, CAD, GBP, USD, YUAN, and YEN. The company provides multiple payment methods including card, ACH, Wire, SWIFT, and local payments.

Differentiator

Problem solved

Functional benefit

Products and services

• Faster Payments Instant and compliant international payment service enabling businesses to send payments to 130+ countries in 30 currencies with real-time transaction monitoring powered by Float's network of payment partners.
• Boost Cashflow Flexible payment terms solution that helps businesses improve cashflow on global business purchases and expense payments.
• Automate Invoicing Smart payment links and invoice creation platform enabling businesses to seamlessly get paid from over 60 geographies in 30+ currencies.
• Manage Collections Revenue collection service that deposits funds from global sales directly to a business's bank account or wallet with zero fees.

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• PaymentCloudcoreStrategic or Co-development Partner · 29 October 2025PaymentCloud partnered with Float to provide FSA/HSA reimbursement services to telemedicine merchants. This collaboration enables telemedicine merchants to accept flexible health benefit payments at checkout, increasing conversions and supporting subscription models for health and wellness merchants.
• Evolve Bank & TrustcoreTechnology or IntegrationFloat's USD operating accounts are provided by Evolve Bank & Trust, a member FDIC. This is a core banking partnership enabling USD-denominated business accounts.
• RoutefusioncoreTechnology or IntegrationMulti-currency accounts are provided by Routefusion, enabling Float to offer multi-currency capabilities for international business payments.
• AccounteercoreStrategic or Co-development PartnerGhanaian Float acquired Nigeria's Accounteer, a cloud-based accounting platform providing invoicing and expense tracking tools. This acquisition expanded Float's accounting services for small businesses.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Wise (formerly TransferWise): Wise offers multi-currency business accounts and cross-border payments to SMBs and mid-market companies, with extensive country and currency coverage. It is the most direct competitor to Float's core multi-currency cross-border B2B payments value proposition.
• Airwallex: Airwallex provides global business accounts, multi-currency wallets, and cross-border payments targeted at SMBs and mid-market. Like Float, it aggregates card, ACH, wire, and local rails across 130+ countries, serving very similar customers.
• Payoneer: Payoneer is a cross-border B2B payments platform serving SMBs, marketplaces, and freelancers with multi-currency receiving accounts and global payouts. Its global vendor/supplier payout and invoicing features compete head-on with Float's "Faster Payments" and "Manage Collections" products.
• Veem: Veem offers multi-currency accounts and cross-border B2B payments for SMBs, with invoicing, vendor payments, and integration into accounting workflows. It targets the same SMB/mid-market segment as Float with overlapping multi-currency AP/AR capabilities.
• Mercury: Mercury provides US-incorporated business banking, multi-currency accounts via partner banks, and bill pay/AP workflows for startups and SMBs. While Mercury is US-centric, its focus on partner-bank-powered global accounts and AP automation overlaps directly with Float's positioning.

Broad incumbents

• Brex: Brex offers corporate cards, business banking, bill pay, and cross-border capabilities to startups and mid-market. It serves overlapping SMB/mid-market segments with broader card and expense-management products that bundle in payment functionality similar to Float's.
• Ramp: Ramp provides corporate cards, AP automation, and expense management for SMBs and mid-market companies. Its bill-pay and vendor payment features overlap with Float's vendor management suite, while its scale and AI positioning make it a broad incumbent in adjacent SMB finance.
• Bill.com: Bill.com is an established AP/AR automation platform serving SMB and mid-market businesses with bill payment, invoicing, and vendor management. Its vendor payment and smart invoicing capabilities directly overlap with Float's "Vendor and Supplier Management Suite" and "Automate Invoicing" products.

Emerging players

• Modern Treasury: Modern Treasury provides payments operations APIs (initiation, reconciliation, multi-rail payments) for fintechs and digital businesses. It targets a more developer/enterprise buyer than Float but overlaps on the underlying payment orchestration and multi-currency payment infrastructure.

Others

• Routefusion: Routefusion is a multi-currency account and FX infrastructure provider that supplies embedded banking rails to fintechs. It is both an enabler (multi-currency accounts for Float) and a competitor to other B2B platforms that white-label its FX/wallet stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Floatcash
• Facebookfacebook.com/floatcash

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Float