FastPay has reportedly raised $15M from Oak HC/FT in order to support the company’s growth, further develop its proprietary technology and acquire potential new hires. This venture is the first FinTech investment from Oak HC/FT’s recent $500 million growth-equity fund.
“The media industry is extremely dynamic and constantly innovating, which necessitates equally robust financial solutions. With Oak HC/FT’s investment, FastPay will continue to transform the financial interactions between global media supply and demand partners by providing flexible capital options, reducing invoicing friction-points, and facilitating the media supply chain”
FastPay offers up an extensive line of financial products and services designed and customized exclusively for global media. This includes the company’s invoice finance and workflow solutions that allow for media tycoons to access flexible growth capital and to efficiently manage and scale their businesses.
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FastPay currently collaborates with an array of media businesses, which includes advertising agencies, DSPs, SSPs, RTB advertising exchanges, web publishers, creative agencies and app developers.
Jed Simon, Founder and CEO at FastPay touted, “The media industry is extremely dynamic and constantly innovating, which necessitates equally robust financial solutions. With Oak HC/FT’s investment, FastPay will continue to transform the financial interactions between global media supply and demand partners by providing flexible capital options, reducing invoicing friction-points, and facilitating the media supply chain.”
Patricia Kemp, a General Partner at Oak HC/FT also publicized, “FastPay is the innovator and market leader in invoice financing and payable automation for global media.” She also then went on to say, “Our decision to invest in FastPay was driven by the strength and vision of its management team, as well as their track record and deep industry expertise.
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FastPay utilizes and leverages its elaborate industry knowledge and understanding to provide and deliver flexible financing options to patrons. Since FastPay was founded, the company has created nearly $500M in loans to hundreds of businesses, allow proprietors to focus on development.
Financial Technology Partners LP and FTP Securities LLC acted as financial advisors to FastPay throughout the transaction.
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