UK FinTech Capital on Tap raises £650m to expand £1.2bn Master Trust facility

May 26, 2025

Capital on Tap, a UK-based FinTech specialising in business credit cards for small enterprises, has announced a significant expansion of its funding structure with an additional £650m secured, bringing its Master Trust facility to a total of £1.2bn.

The latest funding round saw new partnerships with SMBC Group, Société Générale, and Lloyds. HSBC also played a key role, integrating its exposures into the expanded Master Trust as part of a creative financing structure aimed at optimising funding flexibility and growth.

Capital on Tap provides credit cards and financing solutions to small businesses in the UK and US. Its platform enables entrepreneurs to access flexible credit lines while earning cashback, travel rewards, and gift card benefits.

Capital on Tap CEO Damian Brychcy said, “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.”

SMBC Group EMEA head of structured finance (capital markets & advisory) Fabrizio Baicchi said, “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, demonstrating our strong commitment in providing a full suite of asset-backed solutions to specialist lenders in Europe and the UK.”

Société Générale head of European financial institutions securitisation Emmanuel Blind said, “Société Générale is delighted to partner with Capital on Tap to grow its securitisation programme and increase the availability of credit to UK SMEs. We look forward to supporting the continued growth and success of the business.”

HSBC head of specialist financials coverage, financial institutions, Ben Locke said, “We are delighted to have supported Capital on Tap in the expansion of their Master Trust facility. Following the two previous landmark transactions, we are proud of our role in this third round of funding, with the innovative, bespoke solution representing a significant step in the diversification of their funding platform and growth.”