Floatme
“Can a $50 interest-free cash advance app become the financial wellness OS for underbanked and paycheck-to-paycheck Americans?”
Founded2019
HQSan Antonio, TX, USA
FoundersJosh Sanchez
Total raised$19.9M+
Latest roundSeries A, 2022
IndustryFintech / Consumer banking
The story
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.
Product timeline
2019
FloatMe founded by Josh Sanchez to offer interest-free cash advances of up to $50 as an alternative to payday loans.· lending
2020
Raised $3.7M seed round; launched core cash advance product with $1.99/month membership fee.· lending
2022
Raised $16.2M Series A and rebranded/expanded product offering to include financial management tools.· pivot
2024
Launched FloatMe Premium with credit-building, savings, and expanded advance limits up to $100 for existing members at $4.99/month.· banking
The stack
4 layers disclosed in Floatme’s embedded-finance stack
Banking / BaaS
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting gap: none
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.