FastPay, a Beverly Hills, CA-based finance platform servicing the digital ecosystem, said that it has closed a funding round.
The company also launched its signature service, which provides advance payment solutions for digital publishers, marketers, and application and game developers.
Formed by seasoned marketing, media and finance executives, the firm provides digital start ups with advanced payments on advertising and other receivables.
Commenting on the company’s services, Jed Simon, FastPay Founder and CEO, said: “Traditional banks and finance companies simply don’t understand the unique needs of our space and the necessity for on-demand capital to fuel rapid expansion.
“FastPay allows entrepreneurs to keep greater equity and control of their businesses as they grow, and be the long-term beneficiaries of their achievements”, he added.