Settle Lands $240 Million Credit Facility to Scale Working Capital Lending
The cash flow management platform for product businesses said the facility, provided by an international financial institution and a New York-based asset manager, will let it serve larger customers and expand financing options beyond what traditional lenders typically offer.
SAN FRANCISCO — Settle, a cash flow management and working capital platform built for product-based businesses, announced on October 1 that it had secured a $240 million credit facility. The company said the capital came from an international financial institution and a New York-based asset manager, neither of which it named publicly.
Settle's core business is helping product companies — the kind that have to pay suppliers and manufacturers well before they collect revenue from customers — manage that cash flow gap, in part by extending its own financing against inventory and purchase orders. The company said the new facility increases its lending capacity and will let it serve larger businesses and build new financing products for borrowers it says traditional lenders have historically passed over.
The company disclosed that it has now surpassed $4 billion in total originations since launch, though it did not break out how much of that volume has occurred in the current fiscal year or disclose standard lending metrics such as loss rates or average facility size. As with most private credit facility announcements, the specific terms — interest rate, covenants, and duration — were not made public.