Capital on Tap, a platform providing access to capital to SMEs in the UK and USA, has secured a $200m funding facility with HSBC and Värde Partners, according to a company statement/
Launched in 2012, Capital on Tap launched reports over £3.5 billion of funding to more than 125,000 SMEs in both the US and UK.
Capital on Tap provides business credit cards with employee spending controls, reporting, and rewards.
Capital on Tap expanded into the US last March when it launched its US credit. The offices are in Atlanta.
Alan Hart, CFO of Capital on Tap, said closing the facility will help their ability to provide 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 stated:
“We are pleased to establish a partnership with Capital on Tap as they continue successfully expanding by providing 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 lenders that are financing the needs of businesses investing in their products and customers.”