“Can a $50 interest-free cash advance app become the financial wellness OS for underbanked and paycheck-to-paycheck Americans?”
Founded in 2019 as a simple cash advance app capping loans at $50 to break the payday-loan debt cycle. Raised a Series A in 2022 and expanded beyond cash advances to include financial forecasting, overdraft alerts, and savings tools. By 2024, FloatMe rebranded its premium tier to include credit-building features, positioning itself as a broader consumer financial wellness platform ('Your Best Financial Friend') rather than a single-purpose advance app.
Floatme discloses Evolve Bank & Trust as its banking provider, according to the Embedded Finance Index 2026.
Floatme does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Floatme connects to bank accounts through Plaid.
The Embedded Finance Index 2026 maps 4 layers in Floatme's stack: Banking / BaaS (Evolve Bank & Trust); Lending (Interest-free cash advance (up to $50 for new members, up to $100 for existing members) and No-credit-check advance); Open banking (Plaid); Sponsor bank (Evolve Bank & Trust).
Floatme was founded by Josh Sanchez and is founded in 2019, headquartered in San Antonio, TX, USA.
Floatme has raised $19.9M+ in total (latest round: Series A, 2022).
Get a read on where your own stack stands against Floatme and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.