Global law firm Clifford Chance has advised Capital on Tap, a fintech business credit card provider, on its achievement to secure several major funding facilities totaling £1.2 billion. The transactions represent a significant milestone for the business as it will help drive its expansion and enhance support for small businesses in the UK.
The £1.2 billion total figure is a result of a series of landmark developments, including creating Europe’s first non-bank credit card master trust since 2015, worth approximately £1 billion, and doubling its existing revolving credit facility with funds managed by Blue Owl Capital (“Blue Owl”) from £100 million to £200 million.