October 6, 2026 — Fintech company Settle has secured a $240 million credit facility to expand its working capital financing business and support larger product-based businesses across the United States.

The facility comes from an unnamed leading international financial institution and a New York-based asset manager. Settle said the new financing will significantly increase its lending capacity and allow it to develop financing solutions for businesses that may struggle to access traditional bank capital.

Expanding Access to Working Capital

Settle provides financial tools designed for companies that sell physical products. Its platform combines accounts payable automation, bill payments, invoice tracking, procurement, and working capital financing.

The new facility will allow Settle to provide more funding to businesses managing expenses such as inventory purchases, supplier payments, and other operating costs.

The company says its total working capital originations have now surpassed $4 billion, highlighting the growing demand for alternative financing among product businesses.

A Growing Financing Platform

The latest facility follows Settle's previous institutional financing, including a $280 million revolving credit facility arranged in 2022 and a $145 million credit facility secured in 2023.

Settle was founded in 2019 by CEO and co-founder Alek Koenig. The company is backed by investors including Ribbit Capital, Kleiner Perkins, Founders Fund, Stripes, Citi Ventures, and Activant Capital.

Why It Matters

Small and medium-sized businesses often face challenges securing traditional financing, particularly when they need capital quickly to purchase inventory or manage cash-flow gaps.

Settle's model combines financial software with access to working capital, allowing businesses to manage their finances and funding needs through a single platform.

The new $240 million facility could help the company move further into the market for larger businesses while continuing to support smaller companies.

The Bigger Picture

The deal reflects the growing role of fintech companies in filling gaps left by traditional lenders. As businesses look for faster and more flexible ways to finance growth, alternative working capital providers are becoming an increasingly important part of the financial ecosystem.

With more than $4 billion in originations and a new $240 million credit facility, Settle is positioning itself to become a larger player in the working capital market.