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Capital on Tap Launches Two Business Credit Cards

A U.K. fintech company is seeking to change the way small and medium-sized businesses gain the funding they need. Capital on Tap is launching two new business credit cards through WebBank. Here are the details:

U.K. Fintech Capital on Tap Launches Two U.S. Small Business Credit Cards

Capital on Tap is a leading business-to-business (B2B) lender in Europe and one of the U.K.’s fastest-growing companies. The firm provides financial support to small- to medium-sized businesses with funding, with over GBP 2 billion in financing issued to date.

Now, Capital on Tap is eying the U.S. small business landscape and launching two small business credit cards through WebBank. WebBank, founded in Utah in 1997, has a history of working with fintech companies seeking to disrupt the U.S. credit card marketplace. The bank already issues numerous fintech credit cards, including the Avant Card, the Petal 1 and Petal 2 Visa, and the Jasper Mastercard.

About the Capital on Tap Business Cards

Capital on Tap’s first credit card offerings in the U.S. will have two versions. The first card, called the Regular Rewards Card, 1% cash back on all purchases, with no foreign transaction fees nor annual fees. The second card, the Founder Rewards, is a premium business card, featuring 2% cash back earned on all purchases, no foreign transaction fees, and a $199 annual fee. According to the company, both cards will offer credit lines of up to $50,000.

Both cards feature the Visa payment network and are currently open to new applicants.

Providing Access to Crucial Working Capital

Capital on Tap’s move seizes the opportunity to expand the reach of its unique B2B financing model across the Atlantic, despite the hardships of the coronavirus pandemic. “The team worked tirelessly to get the product prepared for launch. COVID-19 and the subsequent economic downturn have meant challenging times for SMBs (small- and medium-sized businesses), and the Capital on Tap business credit card will provide access to crucial working capital and also a range of features built just for SMBs,” said Zoe Newman, Head of International Expansion at Capital on Tap.

“We’re looking forward to the partnership with WebBank and bringing the Capital on Tap business credit card to the U.S. market and serving local SMBs, providing business owners and their employees with new levels of control over funds for growth and business development in addition to supporting cash flow,” she said.

Related Article: Freelancer? Consider a Small Business Credit Card

Featured photo by  Matthew Henry/Burst
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Cory Santos

Cory is BestCards.com's "Jack of all trades" and resident credit expert, covering all facets of the credit card space. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.