MMW learned Thursday that FastPay — a leading financial technology company that provides lending and financial workflow solutions to digital businesses — has a new backer.
The company just announced the close of a strategic investment from Citi Ventures.
This investment will enable Fastpay to grow the flexible lending and financial solutions it delivers globally. Citi Ventures accelerates innovation at Citi through a strategic focus on investing and the commercialization of new solutions with the potential to transform the future of financial services.
We’re told that other recent Citi Ventures investments include LiveNinja, BlueVine and Cylance.
“FastPay’s unique understanding of finance, technology and digital business allows us to uniquely serve the world’s fastest growing industries,” said Jed Simon, Founder and CEO of FastPay. “We are thrilled to partner with Citi Ventures and access the global reach and expertise of a leading global organization as we expand our services and reach new customers.”