FastPay, a California-based fintech company that provides lending and financial workflow solutions to digital businesses, announced on Wednesday it has acquired AnchorOps, a provider of electronic payment solutions for media buyers. While sharing details about the acquisition, Jed Simon, CEO and Founder of FastPay stated:
“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.”
Founded in 2012, AnchorOps claims it has the only electronic payment solution designed and optimized exclusively for the media industry. FastPay noted that AnchorOps’ rapid growth and market dominance is attributable to their vertical expertise, extensive software solutions, proprietary data, and unparalleled client service. Integrating AnchorOps with FastPay’s industry-leading technology, analytics, and credit capabilities will fulfill the financial needs of the advertising ecosystem.
David Frogel, President and Founder of AnchorOps, will join the FastPay team as Chief Revenue Officer. He commented:
“We’re 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.”
FastPay added that the merger will create an integrated working capital solution designed to streamline customers’ financial operations and fuel their growth. The combined company has over 100 employees with five offices globally.