“People in general are overborrowing, and when we investigated transactional patterns, we learned that they didn’t need as much as they were borrowing,” he told Crunchbase News. “Members told us they get into a bigger hole borrowing $200, so we are helping to prevent the vicious cycle by offering a cap.”

https://news.crunchbase.com/news/exclusive-floatme-banks-on-3-7m-seed-to-prevent-vicious-cycle-of-overborrowing/?utm_content=intro&utm_term=content&mkt_tok=eyJpIjoiTURZNE1tUTBOek5oTXpjMyIsInQiOiJ3ZVVFSlkxd0FsTkZhS0RPT3NOVG94cmdkOE1oWFRnZFRYRXJwVzhxOUpOZTcyWjIwY1wva0JcL2V4aWlZUFFodnpDVW80aDJcL1F5R2ZZZFlUSVVmT2RPTmU2RFlTMjYzSXVoeXYrK2lhWWx4eWRCaHVXYktDMzhiNkpIRXVxNFduWCJ9