FastPay bags USD25 million for online payments

Building up its sales and marketing efforts

Online payments firm FastPay has raised USD25 million in the form of a senior credit facility from Wells Fargo Capital Finance and SF Capital Group. The backing follows an initial USD500,000 round of seed funding. The firm operates an invoicing platform, offering companies including publishers and digital marketers up to USD5 million in credit while payments are processed. The startup says that it will use the money to build up its sales and marketing efforts, as well as to develop its core product.

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