Capital on Tap has secured two major funding facilities worth £750m to support its expansion and further enhance financial services for small businesses across the UK and US.
The company has established a £550m Master Trust facility with BNP Paribas and Citi, making it the first non-bank credit card master trust set up in Europe since 2015. This innovative structure is expected to improve Capital on Tap’s ability to scale its lending operations, enabling better access to funding for small businesses.
Capital on Tap CEO Damian Brychcy said, “This is a game-changing moment for Capital on Tap. Creating Europe’s first non-bank credit card master trust in nearly a decade showcases the scale we have built and opens up exciting possibilities for supporting even more small businesses.”
Ghanem Al-Araj, managing director at BNP Paribas, said, “BNP Paribas is pleased to have supported Capital on Tap in establishing the master trust transaction. This ongoing partnership showcases our commitment to support innovative companies like Capital on Tap to continue growing their lending business in the SME sector.”
In a separate transaction, Capital on Tap has doubled its corporate revolving credit facility with Blue Owl from £100m to £200m. This expansion will provide additional support for the company’s growing operations in the UK and US, reinforcing its commitment to small business growth.
Brychcy said, “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.”
Capital on Tap has supported over 200,000 small businesses, with more than £10bn spent using its business credit cards in the UK and US.
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