UK FinTech Capital on Tap Secures £650M to Boost £1.2B Master Trust Facility Expansion
Capital on Tap, a prominent UK-based FinTech firm specializing in business credit cards for small enterprises, has made headlines with its latest financial milestone. The company has successfully secured an additional £650 million in funding, elevating its Master Trust facility to a remarkable total of £1.2 billion. This strategic expansion reflects Capital on Tap’s commitment to providing enhanced financial solutions for small businesses.
New Partnerships Fuel Expansion
The recent funding round has seen significant partnerships formed with major financial institutions including SMBC Group, Société Générale, and HSBC. These collaborations are designed to bolster Capital on Tap’s funding flexibility and support its growth trajectory.
Empowering Small Businesses
Capital on Tap is dedicated to providing flexible credit lines and financing solutions to small businesses in both the UK and the US. Their offerings enable entrepreneurs to access essential resources while also benefiting from:
- Cashback rewards
- Travel rewards
- Gift card benefits
CEO Damian Brychcy emphasized the significance of this funding milestone, stating, “This funding milestone represents not only the trust our partners have in Capital on Tap but also our dedication to simplifying the financial lives of small business owners. By expanding the Master Trust to £1.2 billion, we are taking a bold step forward in empowering business owners with the tools they need to grow, innovate, and succeed in an increasingly competitive landscape.”
Industry Leaders Support Capital on Tap
Leaders from partnering institutions have echoed Brychcy’s sentiments:
- Fabrizio Baicchi, EMEA Head of Structured Finance at SMBC Group, stated, “SMBC Group is pleased to be part of the core bank group supporting Capital on Tap in this milestone £1.2 billion business credit card Master Trust.”
- Emmanuel Blind, Head of European Financial Institutions Securitisation at Société Générale, remarked, “We are delighted to partner with Capital on Tap to grow its securitisation programme and increase the availability of credit to UK SMEs.”
- Ben Locke, HSBC’s Head of Specialist Financials Coverage, expressed pride in supporting the third round of funding, highlighting the innovative approach taken in diversifying their funding platform.
This expansion not only enhances Capital on Tap’s financial capabilities but also reinforces its position as a vital partner for small businesses seeking accessible credit solutions. For more insights into business financing options, check out our resources on business financing options.
With the growing demand for flexible credit solutions, Capital on Tap is poised to continue its upward trajectory, supporting small businesses in achieving their financial goals.
