Shantel
Key Takeaways
- Settle, the premier cash-flow management platform, has secured a $145 million credit facility from Silicon Valley Bank.
- The financing will support Settle’s continued growth, enabling the company to expand its suite of lending products and serve a larger customer base.
- Settle is a vital cash-flow management tool for hundreds of high-growth e-commerce and consumer brands, including Branch, Starface, and Lalo.
- Approximately 80% of small businesses fail due to cash-flow issues, and Settle aims to change that statistic by providing accessible, flexible financing solutions.
About Settle Settle is a leading cash-flow management platform designed specifically for e-commerce and consumer brands dealing with demanding inventory and cash conversion cycles. Its all-in-one platform helps businesses quickly pay vendors, manage invoices, track payment statuses, and apply for flexible financing solutions. Hundreds of high-growth e-commerce and consumer brands worldwide rely on Settle’s innovative platform and working capital to meet their inventory needs, manage their cash flow, and drive revenue.
About Silicon Valley Bank Silicon Valley Bank (SVB), a division of First Citizens Bank, serves as the bank of the world’s most innovative companies and investors. SVB offers commercial and private banking services to individuals and companies across the technology, life science and healthcare, private equity, venture capital, and premium wine industries. It operates in various innovation centers across the United States, providing its dynamic clients with sector expertise, insights, and connections.
Settle’s Breakthrough: Enhancing Cash-Flow Management
In the highly competitive and fast-paced world of e-commerce, the struggle to maintain a healthy cash flow can often determine a business’s success or failure. Settle, with its dedicated cash-flow management platform, provides the perfect solution for e-commerce and consumer brands facing demanding inventory and cash conversion cycles.
The company’s centralized hub enables businesses to pay vendors swiftly, track payment statuses, manage invoices, and apply for flexible financing solutions. This comprehensive approach to cash flow management has made Settle a trusted partner for hundreds of brands worldwide, optimizing their cash-flow with Settle Working Capital to meet inventory needs and drive revenue growth.
Alek Koenig, CEO and Founder of Settle, highlights the critical role of cash flow management, saying, “Approximately 80 percent of small businesses fail because of cash-flow issues. Working capital is, and has always been, the lifeblood of small business, but given the economic climate today, it’s become critical to survival.”
Settle’s Expansion: Powering Larger E-commerce Brands
The recently secured $145 million credit facility with Silicon Valley Bank underscores the increasing demand for Settle’s suite of payments and cash-flow management solutions. The substantial new financing will enable Settle to extend its reach further, developing its lending products to empower larger e-commerce and consumer brands.
The added financial capacity will allow Settle to better support the evolving needs of business owners, providing them with the necessary tools to adapt to changing market conditions. Amidst the inherent volatility of the capital markets, Settle’s increased committed capacity ensures continued support to growing brands, potentially altering the trajectory of their businesses.
Silicon Valley Bank’s Support: Fuelling Settle’s Continued Growth
The secured credit facility isn’t just a testament to Settle’s success—it’s also a nod to Silicon Valley Bank’s commitment to fostering innovation and supporting high-growth businesses.
Brian Foley, Head of Warehouse Lending and Fintech Relationship Management at Silicon Valley Bank, commented, “Settle has quickly become a leading cash-flow management solution for hundreds of high-growth e-commerce and consumer brands worldwide. The company’s growing customer base is a testament to its leadership and innovative model. SVB is excited to support Settle’s continued growth as they provide vital working capital solutions to small businesses.”
In conclusion, Settle’s strategic partnership with Silicon Valley Bank marks a significant leap forward for cash-flow management in the e-commerce space. With its innovative platform, Settle continues to provide businesses with the tools they need to thrive, underlining the importance of financial health in driving sustainable growth.
