FastPay Raises $25M To Tackle Digital Media Cash Flow

FastPay, a startup offering credit lines to digital media companies, says it has raised $25 million in new funding. That may sound like a weirdly specific business model, but founder and CEO Jed Simon tells me via email that FastPay is solving a big problem in the online advertising industry ? the fact that it can take forever to get paid. According to a survey conducted by the Internet Advertising Bureau, it takes 60 days or more to get paid on 80 percent of invoices.

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