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FT Partners Advises FastPay on its Growth Financing

FT Partners Advises FastPay on its Growth Financing

Overview of Transaction

  • On November 20, 2014, FastPay closed a $15mm growth financing with Oak HC/FT
  • FastPay is the market-leading provider of liquidity and financial workflow solutions to the global digital media industry and has originated and funded nearly $500mm since inception
  • The Company, headquartered in Los Angeles with offices in New York, was founded in 2009 and has experienced tremendous growth over the last several years
  • The investment is from Oak HC/FT, a new $500mm sector-specific fund focusing on Healthcare Information & Services ("HC") and Financial Services Technology ("FT"), growing out of a series of Oak Investment Partners' multi-sector venture capital funds
  • Oak Investment Partners is a leading venture capital and growth equity firm that focuses on high-growth opportunities

Significance of Transaction

  • The transaction demonstrates the increasing importance of invoice financing and payable automation in the global media industry
  • The additional investment capital allows the Company to pursue additional growth opportunities by leveraging Oak’s strategic relationships and expertise in technology and lending / workflow businesses

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to FastPay and its Board of Directors
  • Transaction demonstrates FT Partners' continued strength in the Payments and Banking Technology sector, with a growing focus on alternative lending platforms