# FloatMe

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/floatme

- Industry: Financial Services
- Headquarters: San Antonio, US
- Website: www.floatme.io
- Total disclosed funding: $20M
- Latest round: Series A (Dec 20, 2021)
- Investors on record: 9

## About

FloatMe, Corp. is a financial technology company that provides innovative cash advance solutions and money management tools aimed at helping individuals manage their finances more effectively between paydays.FloatMe, Corp. was founded in 2018 in San Antonio, US, by Aaron Graham, Caleb Scott, Joshua Sanchez, and Ryan Cleary. The company operates as an independent entity and has successfully secured funding through multiple rounds, with the most recent being a Series A round in December 2021, raising USD 16.2 mn led by Foundry Group. The CEO of the company is Joshua Sanchez. The firm has been a target for various investments, totaling USD 16.2 mn raised to date, with five deals completed since inception.FloatMe offers a suite of financial services centered around cash advance products called "Floats," enabling eligible members to borrow between USD 10 to USD 50 before their payday. Membership costs USD 4.99 per month, granting access to these advances and tools for money management, including a cash flow calendar to predict available balances. FloatMe aims to assist individuals in addressing small financial emergencies without credit checks or late fees, primarily serving working Americans. The company utilizes Plaid technology for secure bank account connectivity and currently operates in multiple states, with restrictions on cash advances in Connecticut, Maryland, Washington D.C., and Nevada.FloatMe generates revenue primarily through its subscription model, charging members USD 4.99 per month for access to its financial products and services. The company also applies an instant transfer fee for cash advances, ranging from USD 1 to USD 7 based on the transaction amount. Revenue is further bolstered by partnerships with over 40 financial service affiliates, providing exclusive savings opportunities for members, in addition to membership subscriptions and transaction fees.In December 2021, FloatMe, Corp. raised USD 16.2 mn in Series A funding to support its growth strategy. The company plans to expand its team and enhance its product offerings and services to better serve its community. Key areas of focus include launching new products designed to improve user experience and addressing broader financial needs. Additionally, FloatMe is targeting geographic expansion into new markets, although specific regions and timelines have not been disclosed.

## Funding rounds

- Series A, Dec 20, 2021, $16M — Foundry Group, Samsung Venture Investment, ManchesterStory, Active Capital
- Seed, Dec 3, 2020, $3.7M — Drummond Road Capital, HTV Industries, Inc., Springtime Ventures, ManchesterStory, Active Capital
- Seed, Dec 16, 2019, $0.3M — Right Side Capital Management, Comeback Capital

## Investors

- Right Side Capital Management (https://capitalatlas.ai/funds/right-side-capital-management) — Seed
- Comeback Capital (https://capitalatlas.ai/funds/comeback-capital) — Seed
- Drummond Road Capital (https://capitalatlas.ai/funds/drummond-road-capital) — Seed
- HTV Industries, Inc. — Seed
- Springtime Ventures (https://capitalatlas.ai/funds/springtime-ventures) — Seed
- ManchesterStory (https://capitalatlas.ai/funds/manchesterstory) — Seed, Series A
- Active Capital (https://capitalatlas.ai/funds/active-capital) — Seed, Series A
- Foundry Group (https://capitalatlas.ai/funds/foundry-group) — Series A
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series A