Capital on Tap scores USD 100 mln credit facility

Wednesday 4 August 2021 10:26 CET | News

Capital on Tap, a UK-based fintech that issues credit cards to small and medium-sized businesses (SMBs), has scored a USD 100 million credit facility to fuel a deeper expansion in the US.

The fintech initially jumped into the US market in March and counts over 28,000 SMB card applicants in the US so far. It presently offers one type of US credit card, per its website, which is in partnership with WebBank. The card has limits ranging from USD 1,000 to USD 50,000, along with 2% unlimited cashback.

Capital on Tap disclosed it has lent cash to over 100,000 SMBs since it began operations and those businesses have spent over USD 3.5 billion via its cards.

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Keywords: funding, expansion
Categories: Payments & Commerce | Payments General
Countries: United States
This article is part of category

Payments & Commerce