“Can a CPG-focused AP automation platform become the default financial OS for growing consumer brands by bundling working capital natively into procurement and payables workflows?”
Founded in 2019 as an alternative lending platform for e-commerce brands, Settle initially focused on extending vendor payment terms using Settle's own capital. Over time the company built out a broader back-office suite — accounts payable automation, procurement, and cash flow management — effectively becoming the financial operating system for CPG and DTC brands. The embedded finance angle is specifically the working capital product layered on top of real purchasing and payables data, enabling underwriting without equity dilution. Settle has positioned itself to compete with both AP automation tools and specialty lenders simultaneously.
Settle's lending and capital products are provided by Settle Solutions, Inc. (in-house).
Settle runs its ledger on Modern Treasury.
Settle integrates with QuickBooks and Xero.
The Embedded Finance Index 2026 maps 4 layers in Settle's stack: Ledger (Modern Treasury); Lending (Settle Solutions, Inc. (in-house), Settle Working Capital — Extended Payment Terms (EPT, 30–120 days), Settle Working Capital — Amortized Payment Terms, Inventory financing and 1 other); Accounting (QuickBooks and Xero); Treasury (Modern Treasury).
Settle was founded by Alek Koenig and Shane Moriah and is founded in 2019, headquartered in New York, NY, USA.
Settle has raised $151.5M+ in total (latest round: Series C1, 2023).
Get a read on where your own stack stands against Settle and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.