Very interesting factoring models are emerging that take out multibillion inefficiency in SME lending. Models in Media, Apple, Google Play, etc. more to come!
FastPay, a startup offering credit to digital media companies, is announcing that it has raised $15 million in additional equity funding. That description might not sound particularly sexy, but FastPay seems to be tackling a common problem for companies that serve as middlemen between online publishers and advertisers (such as ad agencies, demand side platforms, supply side platforms, ad exchanges, and so on) — you’re in a tough spot if you’re still waiting on money from advertisers when a publisher needs you to pay up. For example, David Segura, then-CEO of video ad company Giant Media, has told me that Giant’s publishers expected to be paid 30 days after a campaign, while its advertisers took 60 days to pay.