UK fintech Capital on Tap to offer small business credit card in US markets, after acquiring $100m credit facility
Capital on Tap, a UK-headquartered Fintech firm, reveals that it has introduced its small business credit card in the US markets. There’s been a lot of demand for such products, the company claims.
Since April 2021, there have been more than 28,000 businesses that have applied for Capital On Tap’s credit card.
In order to help drive their US growth and expansion efforts, Capital on Tap has acquired a $100 million credit facility from Atalaya Capital Management. Established in 2012, Capital on Tap has been supporting more than 100,000 SMBs based in the United Kingdom, Spain, as well as the US.
With Capital on Tap, SMEs are able to focus on running their business without having to worry about acquiring access to affordable financial resources. The firm’s credit card offers an improved onboarding process, better credit limits, effective employee card management, and a rewards program.
Many US businesses have been onboarded, the company revealed while noting that American firms are now finding it easier to maintain operations. They’re able to better manage their spending while earning unlimited 2% rewards on their business expenses, the Capital On Tap team noted.
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Source: UK Fintech Capital On Tap to Offer Small Business Credit Card in US Markets, After Acquiring $100M Credit Facility