The scenario where someone uses a check's "float" to purchase something before the have the funds is still more common than many people think, according to the founders of Float, a startup that sends emergency "credit" to a consumer's debit card.

"Float is the 'America' that people don't think about that much," said Bryan Bradford, an independent financial technology investor that just made an undisclosed investment in Float, which launched Thursday. "People don't plan and they need to make a purchase 'right now' sometimes."

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