Prime Highlights-
- Float raises €4.5 million in Series A funding to lead European tech expansion, backed by Daniel Ek’s family office.
- Float turns profitable this year, posting year on year revenue growth above 100 percent.
Key Facts-
- Float has funded more than 130 European tech companies, including RoomPriceGenie and RedTrack, since becoming operational in 2022.
- Float has deployed over €100 million in funding to European tech companies over the past three years.
Background-
Stockholm based revenue financing platform Float announced a 4.5 million euro Series A funding round aimed at closing the European tech funding gap. Hamburg based CHAPTERS Group AG led the round, backed by major shareholders including Daniel Ek’s family office and Danaher founder Mitch Rales.
CHAPTERS holds investments across various small and medium sized enterprises, including Swiss wealth management software provider Finfox and German fintechs Fintiba and Expatrio, alongside 60 other software businesses across Europe. Jan-Hendrik Mohr, Chief Executive Officer of CHAPTERS, will join Float’s board following the investment.
Mohr said the investment reflects a positive outlook on the European tech industry, noting that Float already provides tech small and medium sized enterprises with reliable means to scale, while positioning the company as a driver of a broader vision to support founders across Europe.
Founded in 2019 by Swiss entrepreneur Cedric Notz and German entrepreneur Jannis Koehn, Float operates as an AI native financial platform helping European technology firms access growth capital and automate financial operations without giving up equity.
Notz, Float’s Chief Executive Officer and co-founder, said the current financial system was not built with modern tech companies in mind, adding that Float addresses slow-moving funding processes and disconnected banking systems that founders face when scaling internationally.
The company plans to expand beyond simple credit lines toward a full AI native financial platform offering live banking access, financial analysis and automated payment and accounting tools, while keeping lending at its core.
Float will use the new funding to double its team and grow its presence in the UK, its largest market, while also pursuing acquisitions through its partnership with CHAPTERS.
Since becoming operational in 2022, Float has funded more than 130 European tech companies, deploying over 100 million euros over the past three years, and has reached profitability this year with year on year revenue growth exceeding 100 percent.
