Settle offers a range of secure payment products tailored for Consumer Packaged Goods (CPG) brands, aiming to simplify cash flow management. Their tools help these brands understand and manage retailer and distributor margins, which is crucial for navigating challenges like supply chain disruptions and changing retail dynamics. Unlike many financial service providers, Settle focuses specifically on the needs of emerging CPG brands, allowing them to concentrate on growth rather than financial complexities. The company operates on a service-based model, likely charging clients a fee based on transactions or a flat rate. Settle's goal is to empower CPG brands to manage their finances more effectively, enabling them to thrive in a competitive market.

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UK-based Sokin has acquired Norwegian fintech Settle Group AS for an undisclosed amount to enhance its Sokin Pay tech offering. This acquisition follows Sokin's recent $31M investment from Morgan Stanley Expansion Capital. Settle, a payments app operating across the EU, provides Sokin with a European EMI license, boosting its market presence. Sokin, with a $4.5 billion annual transaction volume, plans further fintech acquisitions to accelerate growth, according to CEO Vroon Modgill.

Sokin Acquires Settle After $31M Funding

Settle, the leading operations platform for scaling CPG brands, announced the launch of its expanded procurement and inventory management suite and its acquisition of Turbine.

Settle Introduces New Unified Finance and Inventory Platform and Announces Strategic Acquisition to Drive CPG Brand Growth

Settle, a cash flow management platform has introduced two new features: Landed Costs and Universal Catalog.These additions aim to improve the accuracy and efficiency of calculating landed costs, aligning with the company's goal of becoming the brand's primary finance and operations platform. The platform allows users to manage procurement, inventory, payments, and finance from a single interface.Landed Costs is designed to better calculate the total costs associated with products. Brands using Settle to issue purchase orders and process payments can now automatically obtain precise landed costs for each SKU. This feature simplifies the addition of expenses like shipping and tariffs, using methods based on quantity or value allocation. This automation reduces complex calculations and manual errors, improving cost accuracy. The Universal Catalog is a Product Information Management solution tailored for brands

Settle Introduces Two New Features

Think of the consumer packaged goods industry, and you think of the monoliths. Procter  Gamble, for example, has been around since 1837 and has 65 brands on its current roster. Colgate-Palmolive has been in business since 1806 and has 32 brands. What gets lost in the discussion are the startups and mid-sized companies that enter the business and sometimes exit. Each year, 30,000 new CPG brands launch, but only 15% of them get past the first few years of their existence, Alliance reported, citing figures from Nielsen

Settle Says Future Of Cpg Payables Is Industry Specific And Cash Flow Optimized

There’s no business like a B2B business. And successful business-to-business (B2B) strategies — and the companies deploying them — are characterized by agility, innovation, and a focus on delivering value to customers while embracing the power of technology and collaboration. After all, today’s technologies offer more opportunities to optimize processes, improve accuracy, and uncover insights than ever before, helping drive better decision-making and business performance

Small Businesses, Air Transport Innovations Dominate This Week In B2B

An uncertain operating environment calls for controlling what is controllable. And with Mastercard’s reshuffling of its executive team on Tuesday (April 9) to add a data team, real-time visibility into operations — and transactions — is top of mind for businesses.After all, data is the new oil. But with recent advances in computing power and mathematical modeling, combined with the ongoing artificial intelligence (AI) revolution, access to real-time data is increasingly helping businesses make better, faster decisions.That’s because, against the backdrop of today’s ever-shifting landscape, businesses are finding that traditional operating models are no longer sufficient to maintain competitive advantage. The key to unlocking future success lies in embracing agile decision-making and leveraging the ability to adapt and innovate based on right-now information. Embedding real-time data analytics into every decision, interaction and process plays a pivotal role in this transformation.This is all occurring as data literacy among businesses and their employees is on the rise, creating a perfect storm of opportunity for organizations to optimize nearly every aspect of their operations.Still, capturing the benefits of real-time data and surfacing their insights requires systems and tools to produce, consolidate and structure them; as well as the appropriate systems and tools to leverage them.At the end of the day, having all the data in the world doesn’t mean much without the ability to use it.Read more: B2B Businesses Tap Embedded Analytics to Unlock Legacy Data SilosData Is the Core of Process and System ModernizationAnalytics and insights drawn from real-time data can help show an objective view of what’s happening inside a business, and the intelligence that firms can capture is crucial to getting the capabilities in place that allow them stay ahead of the curve. That data is also fundamental to creating a common language around KPIs and business metrics.“What businesses want is certainty, understanding what the future might look like,” Alek Koenig, CEO and founder of Settle, told PYMNTS in an interview posted on Thursday (April 11)

Making Sense Of How Firms Are Leveraging Real-Time Data

The way businesses pay vendors, handle invoices and apply for financing is, in many ways, what defines and drives their business strategy. And the financial operations supporting today’s top business strategies are increasingly getting a shot in the arm from artificial intelligence (AI) solutions that are redefining efficiency, payment speed and vendor settlement for businesses. “What businesses want is certainty, understanding what the future might look like,” Alek Koenig, CEO and founder of Settle, told PYMNTS for the “AI Effect” series

Settle Ceo Says Genai Expedites Cash Flow Management

Settle has added an Automatic 3-Way Matching for Purchase Orders feature to its cash-flow management platform. Designed for eCommerce and consumer packaged goods (CPG) brands, this feature dynamically validates purchase orders (POs), goods received notes (GRNs) and bills by automatically flagging inconsistencies, ensuring users are not overbilled, the company said in a Wednesday (March 27) press release. “Our Automatic 3-Way Matching marks a significant leap forward in removing typical bottlenecks with extreme accuracy, efficiency and control in cash flow management,” Alek Koenig, CEO and founder of Settle, said in the release. “It allows our customers to focus more on what they do best — growing their business.”

Settle Launches Automatic 3-Way Matching For Purchase Orders

Pay with Settle allows Cin7 users to seamlessly trigger bill payments without leaving their workflowSAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Settle , the leading cash-flow management platform, and Cin7 , provider of Connected Inventory Performance - cloud-based inventory management software, today announced their partnership to launch Pay with Settle, a revolutionary embedded vendor payment solution for Cin7 Core users with the simplicity of a button. This launch marks a significant milestone in simplifying financial transactions and driving stronger connectivity between systems for high-growth SMB consumer brands.Pay with Settle integrates directly into Cin7 Core's platform, allowing users to initiate bill payments seamlessly within their existing workflows, marking the first B2B vendor payment solution embedded directly into an inventory management system. This integration provides easy linkage between tools for more advanced workflows, enabling over 1,200 Cin7 Core customers to utilize advanced functionality, including industry-leading AP automation tools like approval workflows, customizable user permissions, and split payments. Qualified businesses will also have access to Settle Working Capital, to help optimize their cash efficiency."We're thrilled to collaborate with Cin7 to bring Pay with Settle to market to help optimize inventory and cash efficiency to drive sustainable growth for product businesses. Among the various benefits, Cin7 Core users will also have access to Settle's best-in-class support team, boasting a 96% CSAT score," said Alek Koenig, CEO and founder of Settle. "Together, we're creating a hub for consumer brands' financial operations."The Pay with Settle solution provides a streamlined method to send bill payments directly from Cin7 Core's purchasing workflows

Settle And Cin7 Partner Introduce First Embedded Vendor Payment Solution For Cpg Brands

Settle , the leading cash-flow management platform, announced today it has partnered with bookkeeping software Finaloop to help ecommerce and CPG brands and founders with an all-in-one finance platform.Up to date, accurate financial data is critical to be able to drive a business effectively, and to be able to secure debt or equity capital. Accounting for physical inventory businesses is highly complex, and requires subject matter expertise to get it right. The Finaloop and Settle integration gives CPG businesses the ability to optimize cash flow and sync to financial statements in real time.“As a business scales, so does the back-office work,” said Alek Koenig, CEO, Settle. “Everything from bookkeeping to managing AP pulls founders away from focusing on growing their business. Our partnership with Finaloop automates these tedious, time-consuming tasks, so businesses can get back to building their business without having to worry about paperwork. It’s a win-win.”“Managing ecommerce finances can quickly become a herculean task for a small business owner,” said Lioran Pinchevski, CEO, Finaloop

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Payment solutions for CPG brands

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Payment solutions for CPG brands

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