The company has received £90m in debt funding from London-based investment houses such as M&G Investments and Triple Point Investment Management,.
A further £50m debt line has been secured from international bank Citi and private equity and credit fund manager Pollen Street Capital.
With the latest funding, the company’s equity reached to £30m and debt to £200m.
Established in 2012, Capital on Tap has been competing with major banks to provide faster and transparent way to fund small businesses.
The company has already offered more than £500m in funding to over 40,000 small businesses across the UK.
Capital on Tap intends to use the additional financing to enhance growth in the UK, helping to serve more small businesses.
George Karibian, along with entrepreneurs, George Karibian and Jan Farrarons, has established Capital on Tap, as well as London-based payment services provider, Paymentsense.
Capital on Tap CEO David Luck said: “We continue to see small businesses being underserved by retail banks, and we are trying to solve that issue.
“At Capital on Tap we support thousands of small businesses by giving them up to £50,000 in minutes.”
Capital on Tap CFO Alan Hart said: “Our funding facilities are specifically designed to help small businesses that have been in our view underserved high street banks. These funding facilities build upon existing relationships with great funding partners and bring new partners into the fold.”
Capital on Tap will provide funding to businesses with a turnover of at least £24,000 per annum. It has provided funding to various people ranging from florists and mechanics to consultants and graphic designers to expand their businesses.
Pollen Street is a global and independent alternative asset investment management firm, which focuses on financial and business services and has a team of seasoned specialists with extensive experience in the UK, US and Europe.
