A big day for FloatMe

Since 2020, FloatMe has been focused on making financial prosperity equitable by putting our members’ best financial interest first.

Joshua Sanchez
January 31, 2022

Since 2020, FloatMe has been focused on making financial prosperity equitable by putting our members’ best financial interest first. It’s something that’s been my #1 priority since we launched, because I know all too well what it’s like to manage unexpected costs on a tight budget. And it was rough.

For people who don’t live paycheck-to-paycheck, a surprise bill can be annoying, yet it’s unlikely that it will create panic or eliminate an entire savings.  It gets paid and then people move on.

For those who don’t have that luxury, they are faced with a very different dilemma. Pay the bill, or take the basics off the shopping list for the foreseeable future? Get hit with a $35 overdraft fee or take out a high interest payday loan?

Personally, being in that position meant being stuck between a rock and a hard place. I was so focused on the short term that I couldn’t possibly lift my head up to look further ahead and take a little bit more time figuring out how to get ahead.

When I teamed up with my co-founders Chris and Ryan, we all understood what it was like to be drowning in debt and were determined to find a better solution to help out the millions of Americans in the same position as us.

Fast forward to today and I couldn’t be more proud to celebrate two incredible milestones in FloatMe history:

  • We’ve raised a $16.2M Series A
  • We’ve rebranded to further solidify our role as our members' Best Financial Friend

$16.2M Series A

We are incredibly excited to have such an exceptional group involved in this round. It was led by Foundry Group with participation from ManchesterStory, Active Capital, Samsung Ventures, and notable fintech leaders including Michal Cieplinski from Pipe, Jordan Wright from Atomic, and John Henry from Loop. This funding will help us continue to grow the team and to build more products and services to help our members.

Seth Levine, Managing Director at Foundry Group shared his thoughts in the official press release "The commitment and focus that FloatMe has towards solving a very real problem for millions of Americans and serving their members in ways that support their immediate and longer term needs really resonated. Coupled with their impressive growth since launch and their thoughtful and differentiated product roadmap, we couldn't be more thrilled to have them in our portfolio."

Your Best Financial Friend

When we set out on the journey to rebrand FloatMe, the focus was on new, bold, fun colors and updated logo to stand out from the traditional brand colors often used in financial services. Yet there was a lot more opportunity to build upon solidifying our place as a “Best Financial Friend”, so we opted to do just that. Today we launched a completely redesigned app & website and added a fresh new look to our emails and social media.

Most importantly, what still holds true after achieving these exciting milestones is that we are continuing to put our members’ best financial interests first. And while that’s currently being showcased through our rebrand and our existing products we have so much more to come this year! And I can't wait to share it with you.

Stay tuned!

        - Your friend, Josh.

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