202430 Apr

Capital on Tap Unveils London Cards No.2 - A Landmark Securitisation Facility

Summary

Capital on Tap, a leading global FinTech, today celebrated a major milestone in its mission to better serve small and medium-sized businesses with the successful launch of its second public securitisation facility, London Cards No.2. This represents a significant expansion from the London Cards No.1 which raised \xa3250 million.Our small business customers are the driving force behind everything we do, said Damian Brychcy, CEO of Capital on Tap. The tremendous success of London Cards No.2, nearly tripling our investor base from 7 to 21, is a testament to the markets confidence in our ability to meet the financing needs of small business owners. This \xa3350 million funding will allow us to significantly expand access to the products small businesses need to thrive and grow.Rob Tanna-Smith, Executive Director, at J.P. Morgan said: We are pleased to support Capital on Tap on their second public ABS transaction. This transaction provides additional funding diversity to Capital on Tap and we are delighted to continue to support the company in their growth as a credit card provider to SMEs across the UK.John Millward, Managing Director at HSBC said: This is a fantastic achievement for Capital on Tap and an important milestone in further building and diversifying their funding platform.

Source: Ffnews

Funding

$439M
Amount
Apr 30 2024
Date
-
Investor
Capital on Tap
Company

Classifications

Companies