FastPay and AnchorOps have formed what is now widely considered as a financial solutions powerhouse for digital media.
The two businesses are engaged in media financing.
In their announcement, Simon said: “We’ve been impressed with the AnchorOps team for years – they’ve built a fantastic suite of products with exceptional focus on serving customers.”
“Our companies share similar values, and we’re excited to provide the industry with a single platform to address the full spectrum of customer needs.”
Simon told TechCrunch’s Anthony Ha that FastPay paid “multiple eight figures”.
Simon also said the entire AnchorOps team will join FastPay, with founder and CEO David Frogel sitting as chief revenue officer.
“The AnchorOps team will comprise the core of FastPay’s payment business and we intend to continue investing on it and growing the team,” Simon added.
For his part, Frogel said in the same announcement that they are “thrilled to join the FastPay team.”
“We share a unified vision of streamlining our industry’s financial workflow to create the premier fintech company for our industry.”
The announcement further said the merger of FastPay and AnchorOps “will create an integrated working capital solution designed to streamline customers’ financial operations and fuel their growth.”
The combined company has more than 100 employees with five offices worldwide.
Founded in 2009 and headquartered in Los Angeles, FastPay provides liquidity and financial workflow solutions to the global media industry.
Since inception, FastPay has originated over $2 billion in loans to publishers, networks, exchanges, DSPs, SSPs, agencies and app developers.
FastPay also has access to hundreds of millions of dollars in deployable capital from partners like Citibank, Wells Fargo, and Japan’s Hitachi company.
FastPay’s leadership team has decades of credit and payments experience from financial institutions such as Green Dot Corporation, Capital One, Morgan Stanley, Goldman Sachs, and Skrill.
FastPay also has offices in San Francisco, New York, London, and Westborough, Massachusetts.
On the other hand, AnchorOps (founded in 2012) provides media companies electronic payment software.
AnchorOps has the only electronic payment solution designed exclusively for the media industry.
AnchorOps was founded by a former agency chief financial officer/chief operating officer.
AnchorOps focuses on streamlining media finance and operations so both agencies and suppliers benefit from workflow efficiency, increased visibility into bottlenecks, improved communication, and reduced manual input and errors.
The integration of AnchorOps with FastPay’s industry-leading technology, analytics, and credit capabilities will fulfill the financial needs of the advertising and media industries.
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