Capital on Tap, a UK-based Fintech, has received a £450 million funding facility provided by Atalaya Capital Management, BNP Paribas, and HSBC. Capital on Tap is a finance provider for UK and US-based SMEs.
Since 2012, Capital on Tap has provided over £3.5 billion of funding to more than 125,000 small businesses across the UK. In March of 2o21, Capital on Tap , expanded into the US. Capital on Tap provides business credit cards with leading employee spending controls, reporting, and rewards.
Alan Hart, CFO of Capital on Tap, stated:
“We are extremely pleased to be working with Atalaya, BNP Paribas and HSBC, who with the provision of this funding facility will enable Capital on Tap to support a greater number of SME’s who are overcoming the economic effects of COVID-19. Working remotely whilst reaching agreement on the facility created its own challenges, which we would not have conquered swiftly without the hard work and dedication on all sides.”
James Intermont, a Principal at Atalaya, said they are excited to support the continued growth of Capital on Tap in the UK and its underlying small business customers with this credit facility.
Julien Terrettaz, Vice President at BNP Paribas, added:
“Supporting fast-growing Fintechs like Capital on Tap is core to our strategy. We are excited to see their continued growth and we look forward to building on this relationship in the future.”