Setscale, a New York-based fintech startup which specializes in purchase order financing for SMBs, raised $9.5M in Seed funding, as well as secured up to $70M in debt.
Backers included Fin Capital, Great Oaks, Mantis, WndrCo, Ethos and Jaws along with executives and founders from top Fintech and SaaS companies.
The company intends to use the funds to expand its current tech offerings, continue building out its team, and double down on marketing efforts. The debt facility enables it to deploy capital to its partners to finance product purchases from credit worthy end buyers.
Led by CEO and Founder Daniel Fine, Setscale is a fintech startup focused on trade financing for small businesses. Through its PO financing technology, the company finances the cost of those goods, allowing small businesses to focus on product and sales, enabling them to scale.
Setscale has helped companies across the CPG, ecommerce, health and wellness, medical and manufacturing spaces, enabling transactions for dozens of entities.
Coming out of stealth, Setscale’s leadership team is rounded out by Jesse Roth, Chief Business Officer and General Counsel, Tami Mohney, Chief Strategy Officer, Don Renyer, Chief Product Officer, and Tim Bjorkman, Chief Technology Officer.
FinSMEs
04/05/2023