New Funding Relationships with SMBC Group, Societe Generale, and Lloyds Strengthen Support for Small Businesses
Capital on Tap, a leading fintech business credit card provider, has announced a major expansion of its funding capabilities, raising an additional £650 million to bring its groundbreaking Master Trust facility to a total of £1.2 billion. This milestone underscores Capital on Tap’s commitment to empowering small businesses with innovative financial solutions.
Expanded Master Trust Facility
The additional funding includes new partnerships with SMBC Group, Societe Generale, and Lloyds, further diversifying the company’s funding base and enabling it to scale operations to meet growing demand from small business customers.
This expansion also includes the innovative structuring of Capital on Tap’s exposures with HSBC into the Master Trust. This approach highlights Capital on Tap’s ability to leverage cutting-edge financial strategies to support its mission of helping small businesses thrive.
“This funding milestone represents not only the trust our partners have in Capital on Tap but also our dedication to simplifying the financial lives of small business owners. By expanding the Master Trust to £1.2 billion, we are taking a bold step forward in empowering business owners with the tools they need to grow, innovate, and succeed in an increasingly competitive landscape,” said Damian Brychcy, CEO at Capital on Tap.
“SMBC Group is pleased to be part of the core bank group supporting Capital on Tap in this milestone £1.2 billion business credit card Master Trust, demonstrating our strong commitment in providing a full suite of asset-backed solutions to specialist lenders in Europe and the UK,” said Fabrizio Baicchi, EMEA Head of Structured Finance (Capital Markets & Advisory) at SMBC Group.
“Societe Generale is delighted to partner with Capital on Tap to grow its securitisation programme and increase the availability of credit to UK SMEs. We look forward to supporting the continued growth and success of the business,” said Emmanuel Blind, Head of European Financial Institutions Securitisation.
Miray Muminoglu, Head of SPG & FI DCM at Lloyds said: “Lloyds is committed to supporting small businesses as they start up, grow, and thrive, and so we are proud to support Capital on Tap with this additional funding which will enable it to continue helping UK SMEs to manage their business spending. We look forward to working with the company as it continues its growth trajectory.”
Brychcy added, “We are pleased to continue our long-standing relationship with HSBC in creating a new financing solution that combines our banking needs with creative use of our existing facilities. HSBC brought a holistic proposition across the various segments of the bank, helping us to free up more resources to support our customers in achieving their goals.”
Ben Locke, Head of Specialist Financials Coverage, Financial Institutions, HSBC, said: “We are delighted to have supported Capital on Tap in the expansion of their Master Trust facility. Following the two previous landmark transactions, we are proud of our role in this third round of funding, with the innovative, bespoke solution representing a significant step in the diversification of their funding platform and growth.”
Driving Growth Across SMEs
The expanded Master Trust facility builds on Capital on Tap’s existing success in fuelling over 200,000 small businesses with more than £20 billion in spending through its business credit cards. This funding will enable the company to accelerate its growth while continuing to deliver exceptional value through cashback rewards, travel benefits, and flexible funding solutions.
Capital on Tap makes it easy for small businesses to manage their business spending, access funding, and earn cashback, travel, and gift card rewards. Over 200,000 small businesses have spent more than £10 billion on their Capital on Tap Business Credit Cards across the US and UK. The company has achieved remarkable recognition, ranking #1 in the Fintech, Financial Services & Insurance category and #5 overall in the Financial Times’ inaugural Europe’s Long-Term Growth Champions 2025 list.
New Wave Capital Limited (trading as Capital on Tap) is a private limited company incorporated in England and Wales.