Float

What Float does

Float Technologies (PTY) LTD is a Johannesburg-based fintech founded in November 2021 that operates a card-linked buy-now-pay-later platform in South Africa. Float enables shoppers to split credit card purchases of up to 24 months into interest-free monthly installments using their existing Visa or Mastercard credit card limits, without new credit issuance, sign-up, or credit checks. The platform's core technical differentiator is a proprietary reserve/pre-authorization mechanism that holds the full purchase amount against the shopper's existing credit card limit at point of sale, charges only the first installment immediately, and bills subsequent installments monthly on the same day as the reserve declines. Float is PCI DSS Level 1 certified, uses 3D Secure authentication, never stores card details, and is POPIA and GDPR compliant.

Float serves a dual-sided marketplace: South African consumers with existing Visa or Mastercard credit cards on one side, and online and brick-and-mortar merchants on the other. Merchant integrations span native plugins for WooCommerce, Shopify, Magento, and ShopStar, plus a custom API for bespoke implementations. The Float Anywhere feature extends the platform beyond e-commerce into in-store QR payments, email/text payment links, and invoice-based transactions. The company reports access to 6.5M+ pre-approved credit cards representing R240 billion+ in available credit, and partnerships with enterprise brands including Samsung, iStore, Cycle Lab, MiFitness, The Pro Shop, and Dial-a-Bed across electronics, furniture, sports, fitness, and fashion verticals.

Float generates revenue through transaction-based fees charged to merchants on each successful installment transaction; specific take rates are not publicly disclosed and are customized per merchant based on volume and settlement terms. Shoppers pay zero interest, zero fees, and zero late fees, with the platform relying entirely on the merchant side of the market for monetization. Distribution combines direct enterprise sales ([email protected]) with self-serve plugin installation, supported by content marketing, SEO, social media presence, and a merchant directory on its website. The company has raised a ZAR 200 million revolving credit facility from Standard Bank (March 2024) and a $2.6 million equity round co-led by Invenfin and SAAD Investment Holdings (September 2025), with stated plans for both local and international expansion.

Name

Float

Legal name

Float Technologies (PTY) LTD

Website

https://float.co.za

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Float is a Johannesburg-based fintech that operates a card-linked buy-now-pay-later platform in South Africa, enabling shoppers to split credit card purchases into up to 24 interest-free monthly installments using existing Visa or Mastercard credit cards, serving 2,000+ merchant stores.

Ownership category

akta.pro rank

Product category

Buy Now Pay Later (BNPL) / Payment Processing

NAICS

Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Merchant-Integrated BNPL (Online Checkout) (FSAKACAA)

akta.pro secondary industry

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)

Keywords

• Buy now pay later
• Card-linked installments
• Payment processing platform
• Merchant checkout financing
• Interest-free instalments

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction Fees: Float charges merchants a fee for each successful transaction processed through the platform. The fee is customisable per merchant based on factors like transaction volume and settlement terms chosen. This is a take-rate model where Float takes a percentage or fixed fee per transaction.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Float is a card-linked Buy Now Pay Later (BNPL) payment platform that enables South African shoppers to split any Visa or Mastercard credit card purchase into up to 24 interest-free, fee-free monthly installments using their existing credit card limit. The platform requires no sign-up, application, or credit check for shoppers, while merchants integrate Float at online checkout (via plugins for WooCommerce, Shopify, Magento, ShopStar), in-store (via QR code), or through payment links. Float charges merchants a customizable per-transaction fee and assumes the collection risk on installment plans.

Product overview

Float is a South African fintech company operating a unified card-linked BNPL platform that allows shoppers to split credit card purchases into interest-free monthly instalments using their existing Visa or Mastercard credit card. The core product is the Float platform itself, supplemented by the Float Anywhere omnichannel feature (QR code, payment links, invoicing), the Float Shopper Portal for managing instalment plans, the Float Merchant Portal for merchant operations and settlements, the Float API for custom integrations, and pre-built checkout plugins for major e-commerce platforms (WooCommerce, Magento, Shopify, ShopStar).

Differentiator

Problem solved

Functional benefit

Products and services

• Float (Core BNPL Platform) A card-linked buy now, pay later platform that allows South African shoppers to split any Visa or Mastercard credit card purchase into up to 24 interest-free, fee-free monthly installments using their existing credit card limit, with no application or credit check required. Sold to merchants as a checkout payment option.
• Float Anywhere An omnichannel feature enabling Float to be used in-store via QR code (integrated into POS or standalone), over email or text message, or on an invoice, extending the BNPL installment experience beyond e-commerce to all sales channels.
• Float Merchant Portal A merchant-facing portal enabling merchants to manage Float transactions, process refunds, customize installment offerings (installment periods, minimum order values), monitor settlement payments, and choose settlement terms (full upfront or over time).
• Float Shopper Portal A shopper-facing portal accessible via single sign-on, allowing customers to view and manage their installment plans, update credit card details, and track repayments over time.
• Float API A custom API for bespoke e-commerce integrations, available for merchants who require custom-built connections to the Float platform beyond the pre-built plugins, enabling them to define their own customer experience.
• Float Checkout Plugins Pre-built e-commerce plugins for WooCommerce, Magento, Shopify, and ShopStar that enable merchants to add Float as a payment option at online checkout with minimal integration effort.

Quantifiable outcome

• 134% increase in average order value for merchants using Float
• +4 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core.

• VisacoreTechnology or IntegrationVisa is the payment network partner enabling Float's card-linked installment functionality. Float works with any Visa credit card, utilizing the existing credit card infrastructure and rails.
• MastercardcoreTechnology or IntegrationMastercard is the payment network partner enabling Float's card-linked installment functionality. Float works with any Mastercard credit card, utilizing the existing credit card infrastructure and rails.
• WooCommercecoreTechnology or IntegrationE-commerce platform integration partner. Float provides a free WooCommerce plugin allowing merchants to add Float as a payment option at checkout.
• ShopifycoreTechnology or IntegrationE-commerce platform integration partner. Float provides a free Shopify plugin allowing merchants to add Float as a payment option at checkout.
• MagentocoreTechnology or IntegrationE-commerce platform integration partner. Float provides a free Magento plugin allowing merchants to add Float as a payment option at checkout.
• ShopStarcoreTechnology or IntegrationE-commerce platform integration partner. Float provides integration with ShopStar allowing merchants to add Float as a payment option at checkout.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Splitit: Global card-linked installment platform that splits purchases across existing credit cards without issuing new credit. Closest international analog to Float's card-linked, no-new-credit model and operates in similar merchant verticals.
• PayJustNow: South African BNPL platform offering interest-free installment payments at checkout. Directly competes with Float in the same South African merchant market and shopper segment, though PayJustNow issues its own credit rather than using existing cards.
• Payflex: South African BNPL provider (backed by African Rainbow Capital) offering interest-free installments across online and in-store merchants. Directly competes with Float for the same South African merchant and consumer base.
• Mobicred: South African online credit and BNPL service providing revolving credit for online shoppers. Directly competes in the same South African installment checkout category, though with a credit-issuing rather than card-linked model.

Broad incumbents

• Klarna: Global BNPL leader operating across dozens of countries with both Pay-in-4 and longer-term installments. Broad incumbent in the same BNPL category as Float but operates at much larger scale and on a lender-led (not card-linked) model.
• Afterpay (Block): Global BNPL platform owned by Block (formerly Square) offering Pay-in-4 installments. Broad incumbent competitor in BNPL at checkout, with much larger scale and a lender-led rather than card-linked model.
• Affirm: US-listed BNPL provider offering longer-term installment loans at point of sale. Broad incumbent in installment-based checkout financing, with a fundamentally different (lender-led) model but overlapping merchant use cases.
• Sezzle: North American BNPL platform offering Pay-in-4 and longer-term installments. Comparable in checkout-financing functionality though operates at much larger scale and on lender-led credit rather than Float's card-linked approach.

Regional players

• TymeBank: South African digital bank offering credit products including installment-style purchases via its retail banking platform. Regional competitor with potential to bundle installment financing directly into bank accounts, threatening Float's BNPL position.
• Capitec: Large South African retail bank with credit and installment products via its banking app. Regional player whose existing credit card base and installment offerings could be extended into a direct competitor to Float in South Africa.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Floatcoza
• Facebookfacebook.com/Float.co.za
• LinkedInlinkedin.com/company/floatcoza

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors5 records

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

M&A

Investments

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

Frequently asked questions about Float