This new facility, which concluded on 16 April 2024, successfully raised £350m, greatly above the original £250m objective due to robust investor demand.

London Cards No.2 indicates a huge expansion from the inaugural London Cards No.1, which earlier raised £250m. This growth is a sign of the company's growing legitimacy and investors' faith in its capacity to support small and medium-sized businesses (SMEs) in the UK.

The organization specializes in providing cutting-edge financial solutions that are customized to meet small business requirements. Capital on Tap offers London Cards and other essential capital solutions that help businesses grow and prosper. This latest financing effort is a clear evidence of their dedication to strengthening the economic situation for SMEs, making key financial services more accessible to this crucial sector.

The proceeds of this most recent securitization will be used to greatly increase the availability of items that small businesses need to flourish. Capital on Tap is devoted to maintaining its assistance for the SME sector, trying to extend its influence and aid more enterprises in reaching their developmental goals.

Further remarks from the investors highlight how significant this deal is. The company's passion was articulated by Capital on Tap CEO Damian Brychcy, who said, "Our small business customers are the driving force behind everything we do." London Cards No. 2's phenomenal accomplishment, which almost tripled our investor base from 7 to 21, is proof positive that the market believes we can provide small company owners with the finance they need. We will be able to greatly increase access to the goods small companies require in order to prosper and develop thanks to this £350 million grant.

Representatives of investors also offered their opinions. J.P. Morgan Executive Director Rob Tanna-Smith said, "We are happy to support Capital on Tap on their second public ABS transaction. With this deal, Capital on Tap will have more funding options, and we are happy to assist the firm as it expands into a UK-wide credit card provider for SMEs.

Both Julien Terrettaz, Director at BNP Paribas, and John Millward, Managing Director at HSBC, commended the accomplishment and emphasized the transaction's strategic significance for Capital on Tap's further expansion as well as its enlarged investor base.

Thinking back on its prior successes, Capital on Tap's initial issue in 2023 laid a strong basis that its most recent securitization has substantially expanded upon.