Capital on Tap launched in 2012 and has provided access to over $5 billion of funding for more than 125,000 small and medium-sized businesses across the U.K. and U.S. Recognized by Forbes as one of the U.K.'s fastest growing businesses, this new investment offers Capital on Tap the opportunity to bolster its impressive expansion in the U.S. The Capital on Tap Business Credit Card, issued by the lender WebBank offers leading employee spending controls, reporting, and rewards.
Capital on Tap made Atlanta its American home when it launched the Capital on Tap Business Credit Card in March, 2021, helping small and medium-sized businesses recover following the pandemic's harsh economic downturn. With 50 employees currently sitting in the Atlanta office and actively recruiting more than a dozen more, Capital on Tap is poised to provide leadership and opportunity for Atlanta's elite tech community.
Alan Hart, CFO, Capital on Tap, commented: "With the closing of this facility we are looking forward to expanding our ability to provide access to essential funding for small businesses across the United States. We are thrilled to be joined in this mission with Värde Partners as well as extending our already international relationship with HSBC."
Aneek Mamik, Partner and Global Co-Head of Financial Services, Värde Partners said: "We are pleased to establish a partnership with Capital on Tap as they continue successfully expanding by making available faster and simpler working capital and payments tools to empower business owners. We see this as a good example of an emerging substantial investable opportunity set for us, providing capital solutions to digitally oriented non-bank companies that are providing access to financing the needs of businesses investing in their products and customers."