Floatpays Inc
YC S21 · Active · On-demand wage access service built for the African market
Competitors
| Company | Category | Status | Program |
|---|---|---|---|
 LoulaShared: wage access, employeeNot statedOther | Other | Not stated | Antler2024 |
 PaveShared: wage accessNot statedOther | Other | Not stated | EF2017 |
 LumeShared: wage accessInactiveOther | Other | Inactive | YCS20 |
 cashexShared: african market, money, accessNot statedOther | Other | Not stated | Plug and Play |
 LendSquare USAShared: borrowing moneyNot statedOther | Other | Not stated | 500 GlobalGA 10 |
Adjacent
| Company | Category | Status | Program |
|---|---|---|---|
 AbhiShared: wage access, before, employeeActiveOther | Other | Active | YCS21 |
 YenmoShared: interest rate, lending, borrowerActiveOther | Other | Active | YCW24 |
 CompoundShared: interest rateNot statedOther | Other | Not stated | SPC2018 |
 LendoShared: borrowing money, lendingNot statedOther | Other | Not stated | 500 Global2019 |
 AccessOwlShared: employee access, same, beforeActiveDevtools | Devtools | Active | YCS22 |
Also from S21
All of S21
About Floatpays Inc
Floatpays is an on-demand wage access platform that helps employees access, spend, save and manage their money. The problem we are solving is that more than 75% of the 12 million employed South African’s run out of money before the end of the month, 52% of those end up borrowing money to survive. Informal lending is the only option for most borrowers, with interest rates anywhere between 30-50%. The story is the same in most African countries where payday/micro-lending has become the norm amongst lower-income earners. Our app features include financial education, a budget planning tool, cash access, and voucher purchases all from wages earned but unpaid. We are currently working on a savings product to promote long-term financial resilience. We launched our product in South Africa in July 2020 and plan to extend our reach into additional African countries in 2022 and beyond.
- YC batch
- S21 · Summer 2021
- Status, per YC
- Active
- Category
- Other
- Team size
- 15
- Location
- Cape Town, WC, South Africa; Remote
- Checked
- 1h ago
Floatpays Inc: questions
Which YC batch was Floatpays Inc in?
Floatpays Inc was in Y Combinator's Summer 2021 batch (S21).
Is Floatpays Inc still active?
Y Combinator lists Floatpays Inc as active.
Where is Floatpays Inc based?
Floatpays Inc lists Cape Town, WC, South Africa; Remote as its location on YC's directory.
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