The news
Settle, a cash flow and working capital platform for businesses that sell physical products, said on October 1, 2026, that it had secured a $240 million Settle credit facility to expand its lending. The company says the new debt will let it serve larger businesses.
According to the company's announcement, the lenders are a leading international financial institution and an asset manager based in New York City. Settle did not name either lender, and it did not disclose the interest rate, term or structure of the facility.
Settle sells software for bill pay, accounts payable (AP) automation and invoice tracking, alongside flexible working capital financing. A credit facility of this kind is borrowed money that a lender makes available to a fintech so it can fund loans or advances to its own customers, rather than equity that dilutes shareholders.
The company said it serves thousands of businesses across the United States and has more than $4 billion in total originations, the total value of financing it has extended. Settle described itself as one of the most active working capital providers in its market, a claim that comes from the company.
Co-founder and CEO Alek Koenig said the facility unlocks financing that these businesses 'simply cannot find anywhere else today,' according to the release.
The new facility follows two earlier debt deals, the company said: a $280 million revolving credit facility in 2022 co-led by Citibank and Atalaya, and a $145 million credit facility from Silicon Valley Bank in 2023. Settle's equity backers include Ribbit Capital, Kleiner Perkins, Caffeinated Capital, Stripes, Founders Fund, SciFi Ventures, Citi Ventures and Activant Capital.
The numbers
- New credit facility
- $240 million
- Total originations (company figure)
- More than $4 billion
- 2022 revolving facility
- $280 million
- 2023 facility (Silicon Valley Bank)
- $145 million
Why CEOs should care
For CFOs and controllers at product companies, the announcement is a reminder that working capital no longer comes only from a bank line. Platforms such as Settle bundle payables software with financing, so the same tool that pays suppliers can also stretch payment terms. Before signing up, ask what the total cost of financing is once fees are included, how quickly the line can shrink if the lender's own funding tightens, and what data the platform takes from your accounting systems.
Settle says the new money is aimed at larger businesses. Mid-sized brands that have outgrown small-business products but do not yet get attention from big banks are the obvious target. Finance teams in that bracket should compare offers from fintech lenders with their existing bank revolver, and boards should check that any new facility does not conflict with covenants on current borrowing.
For fintech founders and investors, the deal shows that debt providers are still willing to fund lending products with a track record. Settle points to more than $4 billion in originations and two earlier facilities, the kind of history lenders tend to ask for. Companies hoping to raise similar warehouse or credit lines should expect questions about loss rates and repayment data.
The bigger picture
Fintech lenders depend on borrowed money to make loans, and the size and source of that funding often matters as much as equity rounds. Settle's earlier lenders included Silicon Valley Bank, which failed in 2023, and the new deal adds a non-bank asset manager alongside an international bank. Mixing bank and private credit funding gives lenders more than one source of capital when one market tightens.
What’s next
Settle did not name its new lenders or give the facility's terms, so watch for any later disclosure of those details, new products for larger customers, and whether the company returns to equity markets. Customers should look for changes to credit limits or pricing as the new capacity comes online.
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