Total amount raised
$521 Millions
Latest funding date
7/1/2023
Location
Settle has successfully raised significant funding through multiple rounds, including debt financing, to support its cash-flow management platform for e-commerce and consumer brands. The platform offers a suite of services designed to streamline financial transactions and back-office operations.
Keep reading to explore the intricacies of Settle's fundraising journey and the investors backing this innovative platform.
What Is Settle?
Settle, founded in November 2019 by Aleksander Koenig, is a cash-flow management platform based in San Francisco, California. The company focuses on helping e-commerce and consumer brands manage their financial transactions and optimize cash flow.
With a team of 51-100 employees, Settle offers a suite of tools designed to streamline back-office operations, including inventory management, procurement, and accounts payable automation. The platform aims to replace disconnected systems and manual processes with real-time clarity and control.
Settle's innovative approach has enabled it to provide over $2.3 billion in funding to brands, transforming how businesses handle their financial operations and make informed decisions about money.
How Much Funding Has Settle Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Village Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Settle's cash-flow management platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market testing.
- Seed Round
- Amount Raised: $6M
- Date: November 2020
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product features.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and early customer acquisition.
- Series A
- Amount Raised: $15M
- Date: May 2021
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate market penetration.
- Series B
- Amount Raised: $75M
- Date: November 2021
- Lead Investors: Ribbit Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enter new markets.
- Debt Financing
- Amount Raised: $280M
- Date: June 2022
- Lead Investors: Atalaya Capital, Citibank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growing demand for Settle's financial products.
- Debt Financing
- Amount Raised: $145M
- Date: July 2023
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and develop a suite of lending products.
Total Amount Raised: $521M. Current Valuation: Not publicly disclosed.
Key Investors
- Silicon Valley Bank
- Details: A high-tech commercial bank that primarily serves technology, life sciences, and other innovation sectors. It is now a division of First Citizens Bank.
- Investment Focus Areas: Technology, life sciences, venture capital, private equity.
- Notable Investments: Pinterest, Shopify, Fitbit.
- Atalaya Capital
- Details: A private credit and special opportunities investment firm. They focus on providing flexible capital solutions to companies.
- Investment Focus Areas: Specialty finance, real estate, corporate investments.
- Notable Investments: Not publicly disclosed.
- Citibank
- Details: A major international bank offering a wide range of financial services. It operates in over 160 countries and jurisdictions.
- Investment Focus Areas: Banking, credit cards, wealth management, investment banking.
- Notable Investments: Not publicly disclosed.
- Ribbit Capital
- Details: A venture capital firm focused on financial technology. They aim to revolutionize the financial services industry.
- Investment Focus Areas: FinTech, financial services, technology.
- Notable Investments: Robinhood, Coinbase, Credit Karma.
- Kleiner Perkins
- Details: A venture capital firm that invests in early-stage and growth companies. They have a long history of backing successful startups.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Google, Amazon, Twitter.
What's Next for Settle?
Settle's future looks promising as it leverages a $145 million credit facility to expand its customer base and develop a suite of lending products tailored for high-growth e-commerce and consumer brands. This significant financial backing positions Settle to capitalize on the increasing demand for cash-flow management solutions, a critical need in today's volatile market conditions.
With the secured funding, Settle is well-placed for future fundraising opportunities, potentially attracting more investors to support its growth. However, the company must navigate challenges such as market volatility and competition from other financial solution providers. Ensuring scalability and continuous innovation will be key to maintaining its competitive edge.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Settle and gather other critical business insights.
Sign up for free on Clay and start making informed decisions that drive success.
