Settle Secures $240 Million Credit Facility to Expand Lending Capacity
Settle, a cash flow management and working capital platform for product businesses, has secured a new $240 million credit facility from an international financial institution and New York-based asset manager. This financing will expand the company's lending capacity, allowing it to serve larger businesses and offer innovative financing solutions that traditional lenders have not provided. This latest funding follows previous institutional commitments: a $280 million revolving credit facility co-led by Citibank and Atalaya in 2022, and a $145 million credit facility from Silicon Valley Bank in 2023. Settle has now facilitated over $4 billion in total originations since its inception. Alek Koenig, CEO and co-founder of Settle, emphasized the importance of addressing financing gaps for small and medium-sized businesses (SMBs), which are often overlooked by traditional capital markets.
Topics: business growth financing lending capacity