In its first round of financing, FastDue - the company that offers a set of online document templates for enabling users manage their businesses - has raised a substantial $5 million from a single, undisclosed angel investor! 

The Palo Alto, California-based company, which is planning to raise a second round funding next quarter, has a wide assortment of online office tools and forms for small businesses and freelancers.

The company provides online services like expense reports, invoicing, previous unpaid collections, and official and business form contracts. In fact, FastDue sounds like a blend of book-keeping products like Outright and web-billing platforms like Zuora.

In the company's own words, "FastDue is a free, secure online suite of business productivity tools with instant invoicing and collections, a robust easy-to-use tracking and management system and the only live, interactive contract negotiation and execution on the web." 

Though for the present the focus of FastDue is chiefly on payments and administering the proprietor-customer relationship, the company's expansion plans include covering all the services required for conducting online businesses.

Without doubt, a large part of the funds raised by FastDue will go towards accomplishment of certain specific features planned for the future, like an account payment tracker, an iPhone application, and a board meeting manager!