Leading cash-flow management platform, Settle, has recently secured an impressive $145m credit facility.
The hefty investment comes from Silicon Valley Bank, a division of First Citizens Bank, and significantly boosts Settle’s potential to support high-growth e-commerce, consumer brands, and small businesses.
Settle has strategically positioned itself as a cash-flow management platform dedicated to e-commerce and consumer brands with challenging inventory and cash conversion cycles. The platform centralises key operations, including vendor payments, payment status tracking, invoice management, and application for flexible financing solutions. Currently, hundreds of consumer brands, such as Branch, Starface, and Lalo, rely on Settle to manage their cash-flow and secure their inventory needs with Settle Working Capital.
The new financing will be utilised to expand the firm’s customer base and further develop its suite of lending products for larger e-commerce and consumer brands. The credit facility will support business owners’ needs by providing the tools necessary to adapt to changing market conditions. Amidst the inherent volatility of the capital markets, the secured funding gives Settle the power to assist growing brands in changing their business trajectories.
Alek Koenig, CEO and founder of Settle, emphasised the importance of managing cash-flow for small businesses, stating, “Approximately 80 percent of small businesses fail because of cash-flow issues.” He further elaborated on Settle’s mission, “From day one, we have been laser focused on helping e-commerce and consumer brands meet their inventory demands by giving them the tools and support to manage cash-flow and obtain access to financing. The need for additional capital provided by Silicon Valley Bank is a testament to continued demand from our customers and our commitment to support them.”
Brian Foley, head of warehouse lending and FinTech relationship management at Silicon Valley Bank, praised Settle’s innovative model and leadership. He said, “Settle has quickly become a leading cash-flow management solution for hundreds of high-growth e-commerce and consumer brands worldwide. SVB is excited to support Settle’s continued growth as they provide vital working capital solutions to small businesses.”
Settle, as a crucial part of the FinTech sector, helps small consumer businesses by alleviating cash flow management worries. Its all-in-one platform is designed to help e-commerce brands enhance their cash flow as they scale and plan for the future.
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