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Edinburgh-based Float gets £500,000 from backers including Skyscanner’s Gareth Williams

Float

Edinburgh-based FinTech startup Float has raised £500,000 from investors including Gareth Williams, co-founder of UK tech unicorn Skyscanner.

The startup also drew support from Rob Dobson, the founder of Actix; and Gavin Dutch, co-founder of Yavi.

Float, which offers a cash flow forecasting software, will use the money to grow its sales, marketing and engineering teams.

The company will also look to develop its product further over the coming year.

Colin Hewitt, CEO of Float said:  “Forecasting and budgeting is notoriously difficult. When cash flow issues arise they can cause anxiety and uncertainty, and in the worst case business failure. When good businesses go bust it hurts not just the owners, but employees, suppliers and customers.

“We want to make cash flow uncertainty history. This investment will allow us to make progress towards that vision, grow our team and continue to innovate. We have huge plans for Float and the next few years will be pivotal, feel like we are just getting started!”

Based in Codabase, a co-working space, Float, which launched in 2012, currently employs 14 people.

Rob Dobson, chairman of Float said: “FinTech is obviously a rapidly growing sector, and now Float has a global audience thanks to its place in the Xero and Quickbooks marketplaces which are used by more than 5 million businesses. We already have customers in more than 100 countries.”

Float said it would match the investment from private backers with from its own revenue.

Check our UK tech investment tracker for the latest industry deals. 

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