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Cash flow management startup Settle seeks deals

Mar 17, 2022
Illustration of a shopping cart icon full of money.

Illustration: Aïda Amer/Axios

Settle, a cash flow management fintech, is on the lookout for M&A opportunities, CEO Alek Koenig tells Lucinda.

Why it matters: The private market funding slowdown means a bifurcation is forming between well-capitalized companies and their less well-capitalized peers.

  • With that backdrop in place, we may see more of those in the former category buying those in the latter.

Settle, which announced a $60 million raise in November, is looking to acquire businesses valued between $1 million to $20 million, Koenig says.

  • Those businesses may be struggling to raise funding independently, he says, which could mean better valuations for an acquirer.

The bottom line: Companies with stronger businesses as well as the lucky ones that by chance timed their fundraising right are in a position to buy.

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