The African continent’s tech ecosystem is experiencing an enviable growth. We are catching up on technology at an exponential rate with impressive innovation and culture aimed at proffering solution to everyday challenges.
Ghana is contributing its fair share of ingenuity towards the ecosystem; with the emergence of new tech solutions and already existing ones doing pretty well on the market. One of such is Float, previously known as Swipe.
Eight months after Float closed its $17 million equity and debt seed funding in what’s arguably known as Africa’s biggest seed round, it moved to acquire Nigeria’s Accounteer in an undisclosed amount.
When Float’s founders, Ghansah and Adjei found a gap in a seemingly financial problem facing small and medium businesses (SMBs) in Ghana and on the continent, they went looking for solutions. According to them, many SMBs rarely have access to big credit facilities resulting in low credit penetration, a problem predominantly fueled by lack of structured financial processes and poor book keeping records.
In their bid to help mitigate this challenge for their customers, Float, a Ghanaian fintech company specialized in cash flow and spend management services moved in to acquire Accounteer, a Nigerian subscription-based cloud-based accounting service that combines bookkeeping, tax prep, and financial advisory services all in one platform for African businesses.
Float is a Ghanain company leveraging technology to provide solutions on the financial market. Originally founded by Jesse Ghansah and Barima Effah Adjei as Swipe in 2020 to provide invoicing services to businesses and later rebranded to Float in 2021 with the core mandate to provide urgent loans to companies whose payments for services rendered are delayed by clients. Float believes that they’re not only providing businesses with quick access to working capital, but are also eliminating the hassle of managing invoices, collecting payments and paying vendors.
Float is a YC-combinator backed digital and lending platform serving African SMBs.
Accounteer is a cloud accounting platform for small businesses. It affords business owner the opportunity to create invoices, track expenses and follow up on their finances with ease. Accounteer integrates with external services like banks, e-invoicing platforms and e-commerce.
Ghana and Africa in its entirety continue to break barriers in tech, affording many the opportunities innovate, challenge the status quo and continually contribute individual and business quotas towards poverty alleviation.