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July 24, 2019

UK’s Capital on Tap partners Marqeta to power card offering

UK’s Capital on Tap has collaborated with card issuing platform Marqeta to support its small business credit card payments.

As a part of the collaboration, all Capital on Tap’s users will receive a new, Marqeta-powered card. This business card offering will be used by more than 60,000 UK enterprises for better access to capital.

Since its launch in 2012, Capital on Tap has already disbursed nearly £1bn in funding to small businesses in the UK.

Capital on Tap CEO and co-founder David Luck said: “We’re excited to partner with Marqeta. We loved the transparency and simplicity of their technology and how future focused and innovative their open-API platform is.

“We felt a really close DNA fit with them and how they’re looking to constantly evolve and build on their tech. They showed an intuitive understanding in how they could support our mission to help small businesses thrive through better access to working capital.”

Founded in 2010, the Marqeta platform is equipped with advanced infrastructure and tools to deliver highly configurable payment cards.

The company’s European Digital Banking solution enables instant issue of virtual cards with advanced spend controls.

In May this year, Marqeta raised $260m in Series E funding round led to support its global expansion. The round, led by investment firm Coatue Management, valued the platform at $2bn.

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