Tag: microlending

FloatMe Closes $25 Million Financing Partnership with KSD Capital
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FloatMe Closes $25 Million Financing Partnership with KSD Capital

Financial tech startup FloatMe closed a $25 million financing agreement with KSD Capital Thursday to help fuel the startup's growth and expand its product line. KSD Capital provides client banks with access to loan pools consisting of small business loans originated through online lending platforms such as FloatMe's micro-lending application. In December, FloatMe closed a $3.7 million seed funding round led by ManchesterStory, a leading firm focused on early-stage fintech and companies using technology to disrupt the insurance industry. San Antonio-based Active Capital, Denver-based SpringTime Ventures, and existing investors Drummond Road Capital and HTV Industries are among the 17 investors who participated in the seed round. Even before the pandemic, many Americans were living p...
Fintech Startup FloatMe Closes $3.7M Seed Round
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Fintech Startup FloatMe Closes $3.7M Seed Round

The financial tech startup FloatMe announced Thursday it had closed a $3.7 million seed funding round led by ManchesterStory, a leading firm focused on early-stage fintech and companies using technology to disrupt the insurance industry. San Antonio-based Active Capital, Denver-based SpringTime Ventures, and existing investors Drummond Road Capital and HTV Industries are among the 17 investors who participated in the seed round. Joining FloatMe's board is ManchesterStory co-founder and managing partner Matt Kinley, who has 21 years' experience as a venture capitalist focused on early-stage through growth-stage fintech, healthcare, and technology companies. "We think the opportunities for FloatMe to help clients improve their finances are endless, and FloatMe's offering is appealing...
Fintech Startup FloatMe Closes $250,000 Pre-Seed Round
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Fintech Startup FloatMe Closes $250,000 Pre-Seed Round

Launching a financial lending services company takes considerable working capital. The San Antonio startup FloatMe is doing just that, having closed a $250,000 pre-seed funding round in December 2019 to help grow its micro-lending application.The Cleveland-based early-stage venture fund Comeback Capital led the round, with participation from San Francisco-based Right Side Capital Management, and local San Antonio investors.Co-founders Josh Sanchez and Ryan Cleary developed the FloatMe app in 2017 to enable workers to get a "float" or short-term advance on their next paycheck without paying hefty fees or interest. Payday lending is a $46 billion industry that traps users with interest fees up 510%.The FloatMe app gives employed customers an advance on their paycheck quickly and ...