Settle Secures $240 Million Credit Facility to Expand Lending Capacity

The new financing builds upon a history of institutional backing that has fueled the company's growth since its inception. Settle previously secured a $280 million revolving credit facility in 2022, co-led by Citibank and Atalaya, followed by a $145 million commitment from Silicon Valley Bank in 2023. These successive rounds highlight the platform's established credit track record in a competitive lending environment.

Alek Koenig, CEO and co-founder, stated that the facility addresses a persistent gap in the market where traditional capital providers often overlook small and medium-sized businesses. By bolstering its balance sheet, the company intends to roll out financing products that were previously unavailable to its client base. The platform currently provides an integrated suite of tools, including AP automation and invoice tracking, designed specifically to help brands manage payables and scale operations.