FastPay announced today that it has surpassed $1 billion in cumulative loan volume. The company’s strong performance is reflective of its commitment to delivering innovative financing solutions to digital media.
“Surpassing $1 billion in origination volume is a significant milestone that reflects not only our success in providing financial solutions for increasingly sizeable enterprise clients, but also points to a significant shift happening in media,” said Jed Simon, Founder & CEO of FastPay. “With digital ad spending poised to overtake TV as the largest advertising category, FastPay is uniquely positioned to continue helping digital companies fuel their growth.”
Since its founding in October 2009, FastPay has become the leading lender in the rapidly growing digital media industry. According to industry research by the Interactive Advertising Bureau (IAB), digital ad revenue has seen the highest level of growth since 2011 with indications that this revenue acceleration will continue into 2016 and beyond. By using a combination of industry specific data and proprietary technology, FastPay is able to underwrite and fund clients more quickly than traditional lenders.
As a FinTech leader, FastPay has expanded its offices in New York, San Francisco and London to better serve its rapidly growing international client base, and continues to innovate and develop its proprietary technology platform.
Founded in 2009, with offices in Los Angeles, New York, San Francisco and London, FastPay is the leading financial partner to the global digital media industry. Through its proprietary technology platform, FastPay can dynamically assess the creditworthiness of digital businesses and provide lines of credit from $5K to $20M in 48-hours or less. The company is a prominent financial leader that has originated over $1 billion in loans across thousands of clients.