LOS ANGELES, CA (PRWEB) September 02, 2015
Float, an innovative, mobile-first financial technology provider, has secured second place out of 850 applicants in Plug and Play, a 12-week accelerator program that partners with Citi Ventures, Deutsche Bank, Capital One, Intuit, JCB, and USAA to help bring to market the next disruptive financial solution for the growing worldwide economy. Additionally, Float will be the first company in this cohort that Plug and Play will be investing in. Float aims to upend systemic issues modern consumers face with traditional banking, like technology, access, and a lack of credit history.
Float’s first product will offer a secure way for consumers to get instant access to credit via a mobile app. Unlike traditional providers, Float’s proprietary technology considers multiple factors beyond credit history when lending, enabling tech-savvy and under-credited consumers to access, build, and maintain credit directly from their smartphones. Float’s credit product will be available to select consumers in December of this year.
“We’re honored to have secured a spot in Plug and Play’s accelerator,” said Max Klein, Float’s CEO. “At Float, we’re building simple and transparent financial solutions aligned with the needs of the modern consumer, and we’re excited for the opportunity to expand our product and our strategic partnerships through the program.”
“With a unique technology for bypassing traditional credit scoring, Float offers a compelling solution for modern consumers to access instant credit. We look forward to Float’s participation in the accelerator program,” said Saeed Amidi, Plug and Play’s founder and CEO.
For more information, please visit: https://www.hellofloat.com/.
About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.