Capital On Tap
“Can a monoline SMB credit card become the primary financial operating system for small businesses on both sides of the Atlantic?”
Founded2012
HQLondon, United Kingdom
Latest round£500M ABS (Nov 2025); £750M funding facilities (Feb 2025)
IndustryFintech / SMB banking
The story
Founded 2012 in London as an SMB credit card provider, Capital on Tap has scaled to 200,000+ businesses and £10B+ in card spend. Product remains focused on a revolving credit business card, but the platform has broadened into embedded spend management, accounting-connected expense controls, and — since 2025 — embedded savings via ClearBank. International expansion into Spain (2020) and the US (2021, via WebBank) diversified the geographic and regulatory footprint.
Product timeline
2012
Founded in London as SME lending / business credit card provider.· founding
2019
Partnered with Marqeta for card issuing/processing.· card
2020
Switched to Stripe for global payments (Payments, Connect, Radar).· payments
2020
Launched in Spain.· expansion
2021
Launched US business credit card with WebBank as issuer/lender.· expansion
2023
Began Plaid open banking integration in US.· lending
2025
Launched ClearBank-powered embedded business savings account for UK SMEs.· banking
2025
Expanded Plaid partnership to UK for open banking underwriting.· lending
2025
Closed £500M ABS deal — Europe's largest non-bank credit card securitisation.· funding
The stack
10 layers disclosed in Capital On Tap’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
Unified APIs
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
16 more providers across 9 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.