Capital On Tap Closes £500M Securitization for SME Credit Cards

Capital On Tap announced the closing of 'London Cards 3,' a £500 million asset-backed securitization, during the week of November 21, 2025. The securitization provides long-term funding for the company's small business credit card platform, enabling continued lending at scale. Capital On Tap offers credit cards and credit lines to small businesses, often embedded within partner platforms and banking ecosystems.

The transaction is notable for its scale and structure, demonstrating capital market confidence in fintech lending platforms even amid tightening credit conditions. By securitizing its card receivables, Capital On Tap can recycle capital more efficiently and extend credit to a broader base of SME customers. The deal underscores the growing maturity of fintech debt capital markets and the role of securitization in scaling embedded lending products.