# Settle Group AS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/settle-group

- Industry: Software
- Headquarters: Oslo, Norway
- Website: www.settle.eu
- Total disclosed funding: $7M
- Latest round: Series A (Feb 1, 2014)
- Investors on record: 1

## About

Founded in 2010, and based in Norway, Settle Group AS operates a mobile payment platform that allows users to pay and receive payments. In December 2024, Sokin, a portfolio company of Aurum Partners and Morgan Stanley Expansion Capital, acquired Settle Group AS from MFG Invest. Daniel R. Doderlein founded the firm and led it as CEO.

Settle Group offers a financial services platform that facilitates money management, enabling users to pay, receive payments, and run their businesses. The company's core product is a mobile payment platform that operates via mobile numbers, eliminating the need for hardware in transactions. The platform caters to individual consumers, businesses, and developers, facilitating payments in various scenarios, including retail purchases and B2B transactions, addressing the growing demand for mobile payment solutions in Europe. Settle's services are accessible in multiple European markets, including but not limited to Norway, Germany, France, and the UK. 

Settle Group generates revenue through transaction fees associated with its mobile payment platform. For example, when a consumer purchases at a partnering retailer using Settle's platform, the retailer receives the payment instantly, while Settle collects a small fee for processing. This fee structure is utilized across various user segments, including B2B partnerships and direct-to-consumer sales, potentially supplemented by subscription models or partnerships. 

In December 2024, Sokin acquired Settle Group AS from MFG Invest, enabling Sokin to broaden its financial services offerings within the European market. As part of its future growth strategy, Settle aims to design and launch new products tailored to emerging digital payment trends, with specific release dates to be announced. The company is also looking to expand into additional European markets, targeting regions that currently lack robust mobile payment solutions, and leveraging the recent acquisition to support these initiatives.

## Funding rounds

- Series A, Feb 1, 2014, $7M — Entree Capital

## Investors

- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Series A