About Float

Built to make credit card debt work for you

Float is a Cape Town-based fintech helping South African cardholders convert revolving credit card balances into structured, interest-free installment plans.

How it started

A R15,000 statement and a gap no product filled

In 2020, Alex Forsyth-Thompson received a R15,000 credit card statement after furnishing a new apartment in Cape Town. There was no way to break it into manageable installments without either paying the bank's 21% revolving interest or applying for a personal loan — a five-day process that added a new credit inquiry to his profile.

The infrastructure to fix this already existed: open banking APIs, authenticated debit orders, card network settlement rails. No product had assembled them for the split-from-statement use case that consumers actually needed.

Alex and co-founder Themba Mokoena built Float to close that gap. Their beta with 30 users split R280,000 in aggregate statements over six months with zero defaults.

Our mission

Make credit card debt work for consumers, not against them

We replace revolving interest with transparent installment plans — giving South African cardholders the clarity and control that should have come with their credit card in the first place.

What we stand for

Five things we will not compromise on

Transparent terms

No hidden fees. The monthly amount you see before confirming is the exact amount that will be debited. Every time.

Consumer protection built in

Our multi-plan dashboard shows your total monthly obligation across all active plans before you add another. Over-commitment protection is a feature, not an afterthought.

Meet users where they are

South Africa runs on WhatsApp. Float's payment reminders, plan summaries, and support interactions happen there — no app download required.

Zero tolerance for ambiguous mandates

DebiCheck authentication means you explicitly confirm each installment mandate before the first debit. No surprises, no disputes.

Earn trust before scale

We are a seed-stage company operating in a market that has been burned by predatory credit products. We will prove the model is safe before we grow it.

Backed by invenfin

Float is supported by invenfin, giving us access to a network of South African consumer and fintech expertise to build responsibly.