Float Finds $3M To Help Millennials Establish A Credit Score

Los Angeles-based Float said late last week that it has raised $3M in an angel funding round, to help Millennials establish a credit score. The funding came from Camp One Ventures, Funders Club, 500 Startups, as well as the Silicon Valley Bank and MasterCard accelerator programs. The startup, led by Max Klein, is looking to help Millennials establish a credit score; the startup said that sixty three percent of Millenials don't own a credit card, and about 45 percent have a "thin file" which makes it difficult for them to apply for an receive those cards. The company said it is offering up revolving credit lines of between $50 and $1000, with only a five percent transfer fee and no interest or hidden costs, all intended to help those Millenials create a credit track record. More information »