Making Moves at the Montgomery Summit

FastPay joined thousands of entrepreneurs, senior investors, and leading executives last week at the Montgomery Summit to discuss business strategy, market positioning, and innovations in the tech landscape. During this exclusive two-day event, panels and discussions ranged from the advancements in AI to the future of venture capital, with a featured presentation by FastPay’s President and COO, Secil Baysal.

“It was an honor to speak at this year’s summit alongside industry leaders from around the world. It’s not every day you have the opportunity for candid conversations about the challenges and opportunities fintech businesses face today,” said Secil.

In his 20-minute panel, Secil took a deep dive into the world of media and finance to discuss the investments in consumer-facing technology and their implications on back-end developments. While the rapid growth in technology has led to some amazing innovations, if you take a closer look at what’s happening behind the curtain you’ll discover outdated software and back-end technology that is impacting the consumer experience.

“We’ve seen digital transformation throughout the media industry in forms of AR/VR, yet AP departments are still running off of checks and payment terms ranging from 120 days up to 155 days. We can send something to the moon quicker than we can send a payment through ACH or check,” said Secil.

Those in the media industry can all relate to this challenge but it’s an important reminder that technology shouldn’t always be taken at face value, and the Montgomery Summit was just the place for this discussion.

FastPay Partners with the AAPC for 2019 40 Under 40 Awards

Congratulations to the winners of the 2019 40 Under 40 Awards program! FastPay is thrilled to be partnering with AAPC to recognize the winners at an awards ceremony during the 2019 Pollie Awards & Conference in Napa Valley.

“We are very excited to welcome the class of 2019 40 Under 40 winners. These are the rising stars of our profession who are already making an impact in our industry and our country,” said AAPC President Tom Shepard. “As an Association we are proud to honor this extraordinary class at a special event held at the Artesa Winery in Napa Valley on the evening of April 2, and sponsored by FastPay, a fitting partner that illustrates the same enthusiasm for innovation as our distinguished Award winners.”

“FastPay is honored to be a part of this momentous occasion celebrating the next generation of political leaders,” said Theresa Mueller, VP of Political Payments at FastPay. “Sending warm congratulations and wishing the class of 2019 a prosperous and bright future ahead. We look forward to seeing all of you take the political community by storm.”

The AAPC is dedicated to fostering the next generation of political professionals and is proud to recognize leaders and innovators in the political business community (including media,
advertising, polling and public affairs) who are making a mark in their organization and their
profession.

Check out the winners here.

Who Run the World? Girls!

In celebration of International Women’s Day, we’re honored to highlight one of the many inspirational women working at FastPay – Danielle Baldaro.

As the sixth employee at the company, Danielle has been instrumental in building what FastPay is today. From laying the foundation in operations to developing the portfolio management team from scratch, she’s been a part of it all. But it hasn’t been without its difficulties.

Danielle went to school while working full time for a small asset-based lender, and after investing more than ten years she found herself reaching a glass ceiling. That didn’t stop her though. She continued to work hard and persevere in the competitive industry, and she’s now the VP of Portfolio Management at FastPay, working mother to three-year-old Hudson, and an inspirational leader admired by many.

“I have worked with Danielle for almost seven years now, and I can always, without fail, count on her. She never ceases to make me laugh and encourages me even on days when she’s stressed and busy,” said Scott Nelson, Marketing and Events Manager at FastPay.

Whether it’s in the office or at home, she leads by example in everything she does. Words of wisdom from the woman herself: “Work hard. Do your best. Be a champion for yourself. Don’t expect anything to be handed to you even if you work hard. You have to advocate for yourself and speak up, it’s up to you to make it happen,” said Danielle.

Shout out to Danielle and all of the amazing women who continue to rock it every day at FastPay! We’re very thankful for each and every one of you.

Winning Big in Texas

Last week was very eventful for our clients and partners who attended the sold-out 2019 Reed Awards in Austin, Texas. Vying for bragging rights to coveted awards like the “Best TV Ad” and “Innovation in Media Buying” over 300 people came together in the heart of Texas hoping to win big.

Award categories included:  

  • Bootstrapped campaigns
  • Direct mail
  • Campaign branding and field
  • International
  • Digital
  • Grassroots
  • Television
  • Spanish language, newspaper, radio and phone calls

“As a multi-year Reed attendee, it was such an honor to be able to sponsor the event this year and support the recognition of the best campaign professionals in the industry. I don’t think people realize all of the work they do behind the scenes to make campaigns come to life,” said Theresa Mueller, VP of Political Payments at FastPay

But more than just an awards show, the event provided the political community with a unique opportunity to connect for a couple of days, share insights, talk shop, and of course, have some fun. And as the headline sponsor, we were determined to make that happen.

“We know campaign season can be emotionally and physically draining for our clients so the Reed Awards gave us a chance to recognize all of their hard work and celebrate the wins right there with them,” said Rick Weir, VP of Marketing at FastPay.

Congratulations to all of the winners. We hope to see you again next year!

Welcome the Newest Member of the FastPay Family!

We’re full steam ahead this year, and we’ve been busy hiring some pretty great people. One we want you to meet is Theresa Mueller, the new VP of Political Payments.

Coming from the media buying world, Theresa isn’t a stranger to the complexities of payments, especially when it comes to political media. Unlike traditional media, political agencies are required to pre-pay to ensure media will run as scheduled which means printing, scanning, and overnighting with FedEx® to meet last minute deadlines.

But these challenges are what entices Theresa – finding efficient solutions for political agencies. Already in her short time since joining FastPay, she’s seen clients directly benefit from the platform.

“I’ve seen the FastPay technology in action, and it works even better than I could have imagined. The platform is solid, reliable, and makes life so much easier for AP departments dealing with the quick pace of political ad buying,” said Theresa.

Theresa isn’t just all business. In her spare time, she enjoys hiking, traveling to new places, running around D.C., playing midfield in her local Women’s soccer league, and spending time with her fiance.

Join us in welcoming her to FastPay!

Global Tech Platform Secures $25M Facility With FastPay

We’re happy to announce that in just three months FastPay secured a $25M facility for a global ad tech platform.

Unlike venture banks, we understand the ongoing challenges of lengthy payment terms and do not penalize companies for working with tier-one companies. We lean into what others label ‘risky’ and instead take a data-centric approach to approving credits, ensuring you can continue to grow and scale your business. 

“When you have a thorough understanding of the space and know how agencies and brands interact, you can begin to offer clients custom flexibility and availability. When our clients succeed, we succeed,” said Maytal Shainberg, SVP of Business Development and Origination at FastPay.

With diversified capital sources and ten years of experience, FastPay has already secured the movement of more than $5B in the space, helping media and technology companies access facilities as high as $100M and freedom from the ‘other guys.’

The [FastPay] Circus is in Town

What happens when you get FastPay employees from London, San Francisco, New York, D.C., Boston, and Los Angeles together in one room? A FastPay circus…also known as FastCon.

But FastCon is more than just a gathering of wild animals. It’s our annual convention for FastPay employees to get together, bond, strategize, and solidify goals for the year ahead. But in order to do so, we had to find the perfect space, outside of the office, to inspire innovation and creativity. The result…a VR arcade, of course.

So with a world of virtual mazes, flying games, and escape rooms awaiting us, we got down to business and envisioned FastPay’s future in the world of FinTech. After many hours of thoughtful conversations with leadership, brainstorming sessions with fellow peers, and motivational talks with industry experts we left the room feeling inspired and ready to take on 2019.

And while there’s a lot of exciting opportunities in store for us this coming year, one thing remains the same… our mission. Our mission to, not only, provide the best service to our clients but to also reduce the friction between suppliers and buyers within the complex media landscape.

Some may say this is an ambitious mission. But just like the circus has a room full of ring leaders, tightrope walkers, and unicyclists; we have a company full of innovative thinkers, problem solvers, passionate creatives, and multi-talented employees that perform awe-inspiring acts everyday… now it’s just a matter of pulling off the greatest show on Earth.

So right this way, Ladies and Gentlemen, watch as FastPay takes on the tech-nifying year of 2019.

2019: The Year of Tech & Mindfulness

Let’s face it, the Consumer Electronics Show (CES) is far from the picturesque Vegas scene we all see in our colleagues’ Instagram stories. Replace those fancy drinks and fun VR excursions with jet-lag, long lines, three hours of sleep, stress filled meetings, and missed calls from work and then maybe, just maybe, you’ll have a better idea of what CES looks like.  

But here at FastPay, we don’t sugar coat things… We know what it’s like at CES for our clients, channel partners, and potential prospects within the space. The media buying season is always on and new, emerging trends in both consumer and advertising technology are so rampant it’s hard to stay ahead of the game.

“Even in my twelfth year of attendance, I’m still amazed at how brands are reinventing the space with the use of integrated technology to engage with consumers in meaningful ways,” said Rick Weir, VP of Marketing at FastPay.

With all of this in mind, we knew we had our work cut out for us, which is why we hosted a Drybar event for select female leaders within the space to relax and unwind before the storm hit. Not only were these influential ladies able to get a blowout before important meetings, they also had the unique opportunity to connect and share insights into their ever changing worlds, something you don’t find at CES everyday…

FastPay Drybar at CES Post

“With the sensory overload that comes from CES, it’s difficult to stop and have a meaningful conversation so we wanted to create an experience where women felt comfortable enough to share their insights and advice with other empowered ladies in the space,” said Maytal Shainberg, SVP of Business Development and Origination at FastPay.

We are so happy we could be a part of the zoo that is called CES and connect with such amazing women! If there’s one thing we can all learn from this year’s CES, it’s that human connection can never be replaced.

Webinar Recap: Learn How Suppliers Can Optimize Interactions with Agency Finance

On Wednesday, FastPay participated in a webinar hosted by the BCCA… the media industry’s credit association, titled, “How credit can interact with agency finance departments more efficiently.”    

David Frogel, Chief Strategy Officer at FastPay, delivered the webinar to an audience of media suppliers covering some common issues and perceptions about media agencies. Frogel, a former COO/CFO of an advertising agency, shared with the attendees his insights on what goes on behind the scenes of an agency finance department and suggestions for media suppliers on how to optimize interaction with an agency. Specific supplier suggestions included:

  • Use EDI whenever possible
  • Understand how an agency treats duplicate invoices
  • Ensure invoices include critical header details, especially estimate and order
  • Consider payment portals and accept electronic payments
  • Explore solutions that streamline/centralize transactions
  • Pick up the phone!

The event concluded with Frogel’s thoughts on the future and Q&A from the audience.  

“I learned a lot about collaborative relationships between agencies and suppliers when I was a COO/CFO of an agency. It starts with willingness to change and considering industry platforms that will deliver greater efficiency and reduce friction for both parties,” said Frogel.

Special thanks to our friends at the BCCA… the media industry’s credit association for hosting this webinar. A full recording of the webinar can be viewed here.

FastPay Names Michael Wehner as General Manager and Senior Vice President of Payments

Media Industry Veteran to Define Payments Portfolio Go-to-Market Strategy and Drive Innovation

Michael Wehner SVP Payments

FastPay announced today that Michael Wehner has joined the company as General Manager and Senior Vice President of Payments. In this position, Wehner will have responsibility for FastPay’s payments portfolio, including managing sales, development, and growth, and overseeing expansion of solutions for media agencies and suppliers. He will be responsible for defining the payments go-to-market strategy and driving innovation through strategic customer engagements. Wehner began his new position as a member of the executive team in December, reporting to Jed Simon, CEO and Founder of FastPay.

Wehner joins FastPay from the Rubicon Project, a digital advertising infrastructure company, where he was Senior Vice President of Agency & Brand Sales. At the Rubicon Project, Wehner was responsible for building out the agency’s strategy and global team, while working closely with global buying partners. Prior to Rubicon, Wehner worked at Microsoft where he led the global strategy for Media & Entertainment, before moving to the company’s advertising division. Before then, Wehner held sales leadership roles at IBM and Yahoo. With more than 20 years of sales and business development experience in digital media, Wehner has a track record for driving revenue growth by delivering integrated technology solutions to media companies.

“Michael brings significant media industry expertise to FastPay, which will support the rapid growth trajectory of our payments portfolio,” stated Simon. “He brings the ideal background needed to understand the complex, ever-evolving media landscape. We believe his proven track record will help expand FastPay’s payment solutions in meaningful ways for both agencies and media suppliers. His leadership skills will help accelerate and manage FastPay’s tremendous current growth and growth potential.”  

“FastPay’s market potential is virtually unlimited, and I’m looking forward to helping the company bring its innovative solutions to the media industry, so we can offer clients greater payment speed, accuracy, and control over their payment operations,” said Wehner. “Today, U.S. media payments total more than $200 billion annually. The FastPay platform delivers the ability to automate a significant portion of those payments, while giving media companies more productivity and the cost savings they need to remain competitive.”

Raised in Rochester, New York, Wehner now lives in New York City. He holds a BA degree in Computer Science from the Rochester Institute of Technology.