London lender Capital on Tap gets $200m backing for US push
Small business lender Capital on Tap has bagged a $200m funding facility from HSBC and Värde Partners as it eyes a US growth spurt.
The London-headquartered fintech, which has a US base in Atlanta, said it is now aiming to use the fresh funding to ramp up its product roll out stateside.
“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,” he said.
“We are thrilled to be joined in this mission with Värde Partners as well as extending our already international relationship with HSBC.”
The lender has dished out more than £3.5bn of funding to more than 125,000 SMEs across the UK and US since launching in 2012.
Having opened its Atlanta outfit in 2021, the firm has grown to 50 employees and bosses said they are now eyeing up a recruitment push.
Financial services partner at Värde Partners, Aneek Mamik, said the firm was readying for a major growth push.
“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,” he said.