Alex Forsyth-Thompson (Float)
Overview
Alex Forsyth-Thompson is a prominent entrepreneur and the founder and CEO of Float, a fintech startup based in South Africa. Float is recognized for pioneering a unique payment solution that utilizes the existing credit on a consumer’s credit card to facilitate buy now, pay later (BNPL) purchases in interest-free, fee-free monthly instalments. This innovative approach sets Float apart from traditional BNPL models by emphasizing responsible spending without issuing new credit lines. Forsyth-Thompson's leadership has positioned Float as a major player in the South African fintech scene, contributing to advancements in financial inclusivity and stability.
Recent Developments
- September 2025: Float raised $2.6 million to expand its operations, enhance its technology platform, and prepare for market expansion. The funding round was co-led by Invenfin and SAAD Investment Holdings, with further participation from existing investors.
- 2024: Alex Forsyth-Thompson was welcomed to the Endeavor South Africa network as part of the Local Scale Up Program. This initiative supports high-impact entrepreneurs with tailored mentorship and strategic support.
- August 2023: Float was recognized among the top 5 fintech innovations in the Visa Everywhere Initiative, highlighting its impact in the fintech sector.
- July 2023: Under Forsyth-Thompson’s leadership, Float secured significant partnerships with major payment processors, enabling seamless omni-channel processing. This move enhanced Float’s market presence and operational capability.
- November 2021: Float officially launched, introducing over 2,000 stores to its service and processing thousands of high-value transactions monthly. The platform saw a 130% increase in average merchant order values.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Alex Forsyth-Thompson |
| Born | Not publicly available |
| Nationality | South African |
| Occupation | Entrepreneur, CEO of Float |
| Known For | Founder and CEO of Float |
| Education | CFA, CFP, holds a commerce degree |
| Net Worth | Not publicly available |
Early Life and Education
Alex Forsyth-Thompson was born and raised in South Africa. He grew up in a family that fostered a strong entrepreneurial spirit, greatly influenced by his father who started his own business after working in a large American corporation. Forsyth-Thompson attended Hilton College, where he was exposed to a disciplined and tradition-rich educational environment. Despite being an average student initially, he excelled in his later academic endeavors, gaining notable achievements and eventually pursuing a career in financial planning and fintech innovation.
Career and Notable Achievements
Forsyth-Thompson initially embarked on a corporate career, working with Alexander Forbes, a prominent financial services company. He climbed the ranks quickly, from being a financial well-being consultant to the executive of group innovation.
- Executive role: As head of group innovation, he oversaw various projects aimed at financial inclusivity and credit solutions.
- Founding Float: In 2021, he founded Float after identifying a niche in the BNPL sector and launched the platform that allows consumers to manage existing credit efficiently.
- Awards: Under his leadership, Float was recognized as one of the top fintech innovations in regional contests, such as the Visa Everywhere Initiative.
Current Work and Impact
Forsyth-Thompson continues to lead Float, driving fintech innovation in South Africa. His work focuses on expanding the platform to international markets while enhancing the proprietary technology to offer broader financial solutions. Float's impact is noted in promoting responsible credit usage and offering flexible payment options that empower both consumers and merchants.
Conclusion
Alex Forsyth-Thompson stands out as a transformative leader in the fintech industry. His venture, Float, exemplifies a shift towards sustainable and responsible financial practices, challenging traditional credit models. With ambitious plans for global expansion and continued technological advancement, Forsyth-Thompson’s work leaves a lasting impact on financial inclusivity and innovation.