ATLANTA and LONDON – 12th April, 2022 – Capital on Tap launched in 2012 and has provided over £3.5 billion of funding to more than 125,000 small and medium-sized businesses across the UK and US. Recognised by Forbes as one of the UK’s fastest growing businesses, this new investment offers Capital on Tap the opportunity to bolster its impressive expansion in the US. Capital on Tap provides business credit cards with leading employee spending controls, reporting, and rewards.
Capital on Tap made Atlanta its American home when it launched its US credit card in March, 2021, helping small and medium-sized businesses recover following the pandemic’s harsh economic downturn. With 50 employees in Atlanta and active recruitment ongoing for more, Capital on Tap is ready to provide leadership and opportunity for Atlanta’s tech community.
Alan Hart, CFO, Capital on Tap commented, “With the closing of this facility we are looking forward to expanding our ability to provide essential 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 said, “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.”
About Capital on Tap
Capital on Tap is a privately held, financial technology company that provides funding to small and medium-sized businesses in the US and UK. Founded in 2012, Capital on Tap has core offices in London, Atlanta, and Cardiff and has provided over £3.5 billion of funding to businesses.
For more information visit www.capitalontap.com.
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $85 billion since inception and manages approximately $14 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity, and direct lending. Värde has offices in Minneapolis, New York, London, Singapore, and other cities in Asia and Europe.
For more information, please visit www.varde.com
HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2.958 billion as of December 31, 2021, HSBC is one of the world’s largest banking and financial services organizations.