South African Fintech Float Expands Card-Linked Instalments to UK

South African fintech firm Float, specializing in card-linked instalment solutions, has launched its services in the United Kingdom. This expansion marks a significant step for the company, aiming to replicate its success in a new international market. The initiative is supported by the UK Government’s Global Entrepreneur Programme, which facilitates the entry of high-growth international businesses.

Founded in 2021, Float enables consumers to divide any credit card purchase into as many as 24 equal monthly payments without incurring interest or fees. The service leverages existing Visa and Mastercard credit lines. In its home market, Float is integrated with over 2,200 retail locations, including major brands like Samsung and The North Face.

Float reports that its platform increases the average order value for merchants by approximately 130 percent. The company states that retailers experience measurably larger basket sizes, improved conversion rates, and access to a higher-spending customer segment. Float has previously secured substantial funding, raising over ZAR280 million (approximately US$17 million) in equity and debt.

Founder and CEO Alex Forsyth-Thompson commented on the expansion, calling it an "enormous opportunity." He noted that merchant adoption in the UK has been significantly faster than their initial launch in South Africa. Float has also received industry recognition, having been shortlisted for the PAY360 Award for Best Consumer Payments Product and the Ecommerce Awards' Best eCommerce Payment Solution in the UK.