Settle, a San Francisco-based cash flow management and working capital platform for product businesses, has secured a $240 million credit facility from a leading international financial institution and a New York asset manager, neither of which was named. It is Settle’s third major facility since 2019, following a $145 million facility from Silicon Valley Bank and a $280 million facility co-led by Citibank and Atalaya, bringing total facility funding to $665 million; Settle’s total originations now exceed $4 billion, with financing limits from $20,000 to $15 million. The main objective of this specialty finance facility is to expand lending capacity so Settle can serve larger businesses while still supporting small and medium-sized businesses overlooked by traditional lenders. Key players include Settle co-founder and CEO Alek Koenig, a former Capital One and Affirm executive, and equity backers including Ribbit Capital, Kleiner Perkins, Founders Fund, Caffeinated Capital, Stripes, SciFi Ventures, Citi Ventures, and Activant Capital.

Settle Secures $240M Credit Facility to Fund Working Capital for Product Businesses