Settle signs forward-flow financing with 3Jane, with $50M of capacity expandable to $100M

Settle has signed a forward-flow agreement with 3Jane, a structured credit platform. The facility starts with $50 million of capacity and can expand to $100 million. 3Jane has bought $18 million of Settle's existing loans and will buy eligible new loans as they are originated.

Settle provides inventory financing and working capital to consumer and ecommerce brands: it pays suppliers upfront and brands repay through extended terms or scheduled instalments. It reports more than $4 billion in originations. Alek Koenig is its CEO and founder, and investors include Ribbit Capital, Kleiner Perkins, Caffeinated Capital, Stripes, Founders Fund, SciFi Ventures, Citi Ventures and Activant Capital.

3Jane funds fintech lenders through a revolving, tranched conduit built on blockchain rails, using stablecoin liquidity. Its CEO is Jacob Chudnovsky. Selling loans frees Settle's capital for new originations.