Canonical URL: https://giftcard.news/industry-deals/capital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54/ --- description: The October 2022 corporate facility with Atalaya supported planned product development alongside the company’s business credit card and rewards offering. title: Capital on Tap raises £100 million to develop its small-business platform image: https://giftcard.news/images/social/v1/capital-tap-raises-100-million-develop-small-business-platform-07f4e65a935b19437b368f6b46e12e6d.jpg --- 1. [Home](https://giftcard.news/) 2. [Industry Deals](https://giftcard.news/industry-deals/) # Capital on Tap raises £100 million to develop its small-business platform The October 2022 corporate facility with Atalaya supported planned product development alongside the company’s business credit card and rewards offering. By [Suzie Elis](https://giftcard.news/author/suzie-elis/) October 18, 2022 2 min read Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Capital%20on%20Tap%20raises%20%C2%A3100%20million%20to%20develop%20its%20small-business%20platform "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Capital%20on%20Tap%20raises%20%C2%A3100%20million%20to%20develop%20its%20small-business%20platform%20https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Capital on Tap business credit card beside a laptop in use](https://giftcard.news/images/variants/v1/capital-tap-raises-100-million-develop-small-business-platform-credit-card-beside-w1280.webp) Official company product photograph accompanying the financing announcement. Photo: Capital on Tap [Capital on Tap](https://giftcard.news/company/capital-on-tap/) announced a £100 million corporate revolving credit facility with [Atalaya Capital Management](https://giftcard.news/company/atalaya-capital-management/) on October 18, 2022\. The business-card provider said the financing would support its expansion and the development of additional tools for small businesses. [\[S01\]](#article-source-1) ## A corporate facility with a product-development purpose The company identified accounts payable software and credit-building products among the areas it planned to develop. These were future plans in the announcement, rather than confirmation that both products had launched. [\[S01\]](#article-source-1) Scroll left or right to see all columns __A corporate facility with a product-development purpose__ | Element | Announcement detail | | ------------------- | ------------------------------------------------------ | | Financing | £100 million corporate revolving credit facility | | Counterparty | Atalaya Capital Management | | Planned development | Accounts payable software and credit-building products | | Existing offer | Business credit card, spending controls and rewards | Capital on Tap described more than 200,000 small businesses served since its launch in 2012\. It said its US business, introduced in 2021, had reached more than 14,000 cardholders. The existing rewards proposition included cashback, travel and gift cards. These are historical figures and product descriptions from the October 2022 release. [\[S01\]](#article-source-1) ## Keeping the funding channels separate The corporate financing was a different transaction from the £200 million UK funding facility announced that August. Treating the two as one deal would obscure the separate counterparties and the purposes described in each announcement. For businesses involved in gift-card rewards, the relevance is the wider platform through which cardholders earn and redeem value. A facility supporting product development can help a provider expand that relationship, but the headline amount is not a measure of gift-card sales or the budget available for customer rewards. The release did not provide detailed pricing or drawdown conditions. It supports the financing announcement and the company’s stated development plans, without establishing that borrowing terms or reward rates improved for every small-business customer. ## Sources and documents ExpandCollapse * [\[S01\] Capital on Tap Raises £100 Million | Capital on Tap](https://www.capitalontap.com/en/company/newsroom/posts/capital-on-tap-raises-100-million/?utm%5Fsource=giftcard.news) — www.capitalontap.com ## In this article ### Companies * [Atalaya Capital Management](https://giftcard.news/company/atalaya-capital-management/) * [Capital on Tap](https://giftcard.news/company/capital-on-tap/) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Capital%20on%20Tap%20raises%20%C2%A3100%20million%20to%20develop%20its%20small-business%20platform "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Capital%20on%20Tap%20raises%20%C2%A3100%20million%20to%20develop%20its%20small-business%20platform%20https%3A%2F%2Fgiftcard.news%2Findustry-deals%2Fcapital-on-tap-secures-100-million-funding-to-enhance-product-offering-f-54a761df7b54%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Portrait of Suzie Elis](https://giftcard.news/images/variants/v1/suzie-elis-editorial-portrait-w320.webp) About the author ## [Suzie Elis](https://giftcard.news/author/suzie-elis/) Journalist — Gift Cards & Digital Gifting Suzie Elis covers gift card products, digital gifting and distribution for Gift Card News. From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. 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