BillFloat, a US-based provider of credit to help people pay their bills, has raised $4.5m in its series A round from venture capital and strategic investors.
Online money transfer company PayPal had originally provided seed money to BillFloat alongside Venrock, the venture capital division of the Rockefeller family, last year.
US-based VC First Round Capital led the series A, in which PayPal and Venrock participated, along with Baseline Ventures, SoftTech VC, SV Angel and Mark Goines.
Ryan Gilbert, chief executive of BillFloat, said: "We will provide consumers with relief from the $32bn in overdraft protection, non-sufficient funds and late fees paid by American families every year."