FastPay is a Los Angeles-based fintech led by founder and CEO Jed Simon that provides lending and financial workflow solutions to digital industries. The company uses proprietary technology to dynamically assess borrower creditworthiness and issues working capital loans between $5K and $20M in 48 hours or less. Since inception FastPay has originated nearly $1.5BN in loans. It has access to hundreds of millions in deployable capital from Wells Fargo, AloStar, Everbank, SF Capital and a private investor marketplace. FastPay employs more than 70 team members across global offices in San Francisco, New York and London. The company intends to use new funds to grow its flexible lending and financial solutions globally. FastPay provides credit and cash-flow financing to digital media companies, addressing timing gaps between advertiser payments and publisher payouts. The company targets intermediaries such as ad agencies, demand-side and supply-side platforms, and ad exchanges. FastPay says it has originated nearly $500 million in loans to digital media companies. It has grown its team to more than 40 people. A significant amount of the company’s financing has come in the form of debt. Founder and CEO Jed Simon has said the firm often works alongside venture capitalists. FastPay is a tech-enabled finance platform based in Los Angeles, CA that provides financing to companies across the digital landscape. Led by founder and CEO Jed Simon, the company offers credit lines up to $5m to content publishers, social media marketers, digital creative studios and ad-tech businesses including exchanges, demand-side platforms and agency trading desks. The company secured an additional $25m in funding comprised of a senior credit facility from Wells Fargo Capital Finance and a subordinated debt and equity investment from SF Capital Group. FastPay intends to use the funding to expand its sales and marketing efforts. In conjunction with the funding, SF Capital Group President Neil Wolfson and Howard Capital Management Managing Partner Jason Kaplan will join the company’s Board of Directors.

Total raised

$15M

Funding rounds

5

Latest round

Equity

Latest activity

Nov 2014