Capital on Tap announced on July 1, 2022 that it had placed 54th in the inaugural Sunday Times 100 ranking of Britain’s fastest-growing private companies. The listing followed the publication’s earlier Fast Track 100 series. [S01]

A sales-growth ranking

The company described qualification as requiring four years of accounts, with growth assessed using compound annual sales growth over the latest three financial years. Research for the list was conducted by Beauhurst. The announcement did not give Capital on Tap’s individual growth percentage. [S01]

Capital on Tap supplied business credit cards and spending-management tools, with cashback, travel and gift-card rewards. At the time, it reported serving more than 200,000 small businesses across the UK and US. That was a company-wide customer figure rather than a count of gift-card users. [S01]

Scale and product performance are different measures

A historical sales-growth ranking can describe a company’s expansion. It does not establish the value of a particular reward programme, the experience of an individual customer or the sustainability of later growth.

For the gift-card sector, the relevant connection is the distribution of rewards through a growing business-spending platform. The release did not quantify gift-card redemption, disclose a new retail partnership or identify the proportion of customers choosing gift cards.