London-based Capital on Tap, a credit card and spend management platform for small businesses, announced on Wednesday that it has secured a £200M (approximately €236M) funding facility from JP Morgan and Triple Point.
The company says the funding will help small businesses access credit when the UK is anticipating a recession and facing historical inflation rates.
Alan Hart, CFO of Capital on Tap, says, “We are thrilled to be working with JP Morgan while continuing our long relationship with Triple Point. Their willingness to support our mission of ‘Making the Lives of Small Businesses Easier’ recognises the importance of this mission and Capital on Tap’s track record of delivering.”
The announcement comes four months after the compnay secured a $200M (approximately €199.8M) funding facility from HSBC and Värde Partners to support their continued US growth. In addition, the company made Atlanta its American home when it launched its Business Credit Card in March 2021.