Financial Startup “Settle” with an office in Lviv raised $60 Million

by Meifan Honcharuk
Wednesday, November 24, 2021
Financial Startup “Settle” with an office in Lviv raised $60 Million

According to the company, in 2021, "Settle" has increased its revenues by 20 times

Successful investment round

The American cash flow management company held a Round B investment led by Ribbit Capital. In addition to the lead investor, the round was attended by Kleiner Perkins, Caffeinated Capital, Activant Capital and Stripes.

The new funding will allow the company to quickly introduce new products to the market and grow faster in people, attracting the best engineers to the team.

What do we know about Settle?

Settle is a startup for cash flow management of a business. It develops a tool that consolidates all payments, funding and reporting so brands can scale faster. Settle was founded in 2019 by Alex Koenig. Settle's clients include ItalicHuronBrightlandBranch and Better Booch. It expands by hiring 1-2 people monthly. Now they are looking for specialists of the senior levels.

In general, the company employs 40 people, and they want to increase their number to 100 by next year. In addition to Lviv, Settle also has offices in San Francisco and New York.

Office in Ukraine 

A significant part of the startup team is located in Ukraine, namely in Lviv. According to a representative of the Ukrainian office, the team in Lviv is not outsourcing or outstaff, but a full-fledged product team. Half of the engineers and all the product design are here, and the other half are the engineers, the business team, CTO and founder in the USA.

Most of the Settle team is currently working in Ukraine — 13 people. In addition to the salary, the company offers employees options and the possibility of telecommuting. After attracting investments, they plan to expand the Ukrainian team, hiring 1-2 people monthly.

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