Settle, a cash flow management and working capital platform for product businesses, has secured a US$240 million credit facility from a leading international financial institution and a New York asset manager. The company announced the facility on October 1, 2026, describing it as a meaningful expansion of its lending capacity. The new capital will allow Settle to serve larger businesses and offer financing solutions that traditional lenders have generally failed to provide.
Facility Details and Strategic Purpose
The credit facility is designed to broaden Settle's lending capacity significantly beyond its existing range of products. It will support larger product businesses while also improving access to working capital for small and medium-sized companies that often face limited financing options. Settle views this new backing as part of its ongoing mission to address the gaps left by traditional capital markets.
Track Record of Institutional Commitments
The new facility follows several institutional commitments that highlight Settle's expanding credit track record. In 2022, the company closed a US$280 million revolving credit facility co-led by Citibank and Atalaya, and in 2023 it secured a US$145 million credit facility from Silicon Valley Bank. With total originations surpassing US$4 billion, Settle has become one of the most active working capital providers for product businesses in the United States.
Focus on Underserved Small and Medium-Sized Businesses
Settle's leadership emphasized that small and medium-sized businesses remain overlooked by conventional lenders, especially when they seek flexible working capital. The company continues to focus on these underserved businesses while expanding its ability to support larger accounts and more complex financing needs. The addition of this facility is expected to strengthen Settle's capacity to deliver financing products at every stage of a company's growth.
Executive Perspective
Alek Koenig, CEO and co-founder of Settle, called the facility a significant win for both larger accounts and the small and medium-sized business space. He said that small and medium-sized businesses continue to be overlooked by traditional capital markets, which is exactly the problem Settle set out to solve. Koenig added that the facility strengthens the company's ability to serve businesses at every stage and unlocks financing solutions that are not available elsewhere today.
Market Context and Company Momentum
Settle has positioned itself as a specialized working capital platform for product businesses, a segment that often faces limited financing options. The company's latest facility reflects growing institutional confidence in its underwriting approach and platform expansion. By increasing lending capacity, Settle aims to offer a wider range of financing products than was previously available in the market.
Funding Strategy and Future Outlook
By securing this credit facility, Settle is building a more flexible funding model that can adapt to customer demand. The company has increasingly combined credit facilities with its technology platform to streamline working capital access for product businesses. This strategy supports both current lending activity and future product development in a market that traditional lenders have underserved.
The new US$240 million credit facility marks another step in Settle's effort to reshape working capital access for product businesses. It builds on the company's previous facilities and positions it to serve a broader range of customers, from small and medium-sized businesses to larger enterprises. As institutional backing grows and originations pass US$4 billion, Settle is strengthening its role as a key financing partner in the United States.