Ghanaian Fintech Float Raises $17m Seed to Power Cash Flow for Commerce in Africa

Cash flow is a major pain point for small businesses in Africa. Long payment cycles, which can take 30-90 days after services or products have been rendered, and little or no capital, of which research says 85% of African small and medium businesses are subject to, are the main culprits of cash flow issues.

Many startups are solving these problems for African SMBs in one form or another, and the demand for their services has seen Ghanaian startup Float pick up a significant round of funding. The fintech which provides credit lines for businesses has raised $17 million, funding that it will be using to bolster its offerings and expand geographically.

AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X