AvidXchange completed the acquisition of FastPay.

AvidXchange, a provider of accounts payable and payment automation solutions, completed the acquisition of FastPay, a provider of payments automation solutions for the media industry. Financial terms were not disclosed. "FastPay's expertise and purpose-built set of payments automation solutions for the media industry are what excited us about the potential to have FastPay become a part of AvidXchange. We work hard to identify companies that service specific verticals across the middle market, with an interest in those that have developed and continue to enhance their technologies to better the day-to-day finance operations of its customers. This is exactly what FastPay delivers, supported by a very talented team with deep media industry expertise," Michael Praeger, AvidXchange CEO.