London-based small business credit card provider Capital on Tap has secured £750 million in funding facilities.
The firm has established a £550 million Master Trust facility with BNP Paribas and Citi, marking the first non-bank credit card master trust created in Europe since 2015. It has also doubled its existing revolving credit facility with Blue Owl from £100 million to £200 million.
Capital on Tap was founded in 2012 and expanded to the US in 2021. It has now provided more than £10 billion in funding to over 200,000 companies.
Earlier this month, it partnered ClearBank on an embedded banking service that provides clients with a business savings accounts integrated directly into its existing user portal.
Damian Brychcy, CEO, Capital on Tap, says: “Securing £750 million in total funding is a clear vote of confidence in our business model and future plans. With both facilities in place, we’re perfectly positioned to accelerate our growth and deliver even more value to small business owners on both sides of the Atlantic.”