Capital on Tap secures £750m in funding facilities to boost UK and US SME lending
Capital on Tap, a London-based small business credit card and spend management platform, has secured two funding facilities totalling £750 million to drive the expansion of its SME lending operations in the UK and US markets.
Capital on Tap expands lending capacity with two funding facilities
The company has landed a £550 million master trust facility with BNP Paribas and Citi, described as the “first non-bank credit card master trust created in Europe since 2015”, and has also doubled its revolving credit facility with Blue Owl Capital from £100 million to £200 million.
Founded in 2012, Capital on Tap provides an array of physical, virtual, and travel credit cards for SMEs, offering 1% cashback on all purchases. The company claims that over 200,000 small businesses have collectively spent over £10 billion on its business credit cards in the US and UK.
Earlier this month, Capital on Tap expanded its services by leveraging ClearBank’s embedded banking service to launch its new business instant savings account.
Capital on Tap says the new facility with BNP Paribas and Citi will “significantly enhance the company’s ability to scale operations and support small business customers”, while the expansion of its facility with Blue Owl will “support the company’s operations across both the UK and US markets”.
