FastPay’s type revolves round lending cash to virtual media firms, serving to them maintain cashflow problems as they wait to receives a commission by way of advertisers. AnchorOps, in the meantime, has constructed invoicing and payments tool for the ones media firms.
In the purchase announcement, CEO Jed Simon stated the deal permits FastPay to create “a single platform to address the full spectrum of customer needs.”
Asked about how a lot he’d paid for AnchorOps, Simon instructed me it was once “multiple eight figures” (so, tens of thousands and thousands of bucks) in money and inventory. He additionally stated all the 30-person AnchorOps staff will probably be becoming a member of FastPay, with founder and CEO David Frogel changing into leader earnings officer.
“The AnchorOps team will comprise the core of FastPay’s payment business and we intend to continue investing it and growing the team,” Simon stated.