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Engage: BDR announced today that it has raised an additional $ 23.25 million.
CEO Ted Dhanik told me that this included both debt and equity financing and would be used to develop the company's NetZero payments program.
NetZero is designed to solve the problem of significant delays faced by publishers before they are paid by advertisers. Dhanik said "conditions are getting worse", with publishers being asked to wait 30, 60, 90 or even 120 days after billing their advertising partners before payment.
Other companies, such as FastPay, have tried to close the gap, but Dhanik said those loans could have interest rates of up to 25 percent. The Engage team: BDR (which is listed on the Australian Securities Exchange) is therefore asked the following question: "Hey, if we could just pay the publishers the same day they charge us ? "
Rather than earning money by charging interest, Dhanik said his company was trying to encourage more publishers to use its programmatic advertising platform.
"We just want business – extra income," he said.
Engage: BDR Reports Web, Mobile and Connected TV Publishers in North America, Australia and Europe Eligible to Participate in NetZero Program, Though First Needing Approval of the society.
"If you think about NetZero, you can think:" Hey, if there is fraud, it's pretty dangerous, you do not have the ability to recover [the payment]Dhanik said, but apparently, Engage: BDR has "a lot of technology in place to qualify them pretty quickly, in the early days."
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