Capital on Tap announced Thursday that it has secured a $237 million credit line from $3.8 trillion JPMorgan and investment firm Triple Point. The U.K.-based fintech provides fast funding to small businesses in an all-in-one business credit card and spend management platform.

The company was founded in 2012, and more than 200,000 small business customers have spent $4.7 billion using Capital on Tap’s business cards, according to a release.

The investment allows JPMorgan to work “with Capital on Tap on this new facility to fund credit card lending to support small businesses throughout the U.K.,” Rob Tanna-Smith, executive director at JPMorgan, said in a statement.

The credit line comes four months after the company secured $200 million in funding to expand its U.S. operations with support from investment firm Varde Partners and $2.96 trillion HSBC. Capital on Tap has raised a total of $1.3 billion over five rounds, according to Crunchbase.

Tamara raises $100M in series B

Saudi payments startup Tamara announced Monday that it has raised $100 million in a series B funding round.

The round was led by Sanabil Investments with participation from investment firms Coatue, Shorooq Partners, Endeavor Catalyst and fintech Checkout.com.

Founded in 2020, Tamara will use the funding to expand its buy-now-pay-later platform into new markets, according to a release.

The startup’s merchant partners see on average a 40% higher order value, 20% lower cash on delivery, 15% higher conversion and lower order return rates, Abdulmajeed Alsukhan, co-founder and CEO at Tamara, said in a statement.

“We act as a marketing and discovery channel for our partner merchants to drive new customers and incremental sales online and in-store,” Alsukhan said.

The new funding brings Tamara’s total raised amount to $215.6 million over five rounds, according to Crunchbase.

Kapitus closes $95M in funding capacity

Small business financier Kapitus announced Thursday that it has closed $95 million in additional funding capacity, bringing total debt facilities to $360 million.

The financing comes on the heels of the fintech raising $160 million in 2021, a record for the 16-year-old company. In July 2022, the New York City-based lender closed a $60 million upsize to its existing securitization and expanded its warehouse facility to $100 million in August, according to a release.

“Kapitus helped small businesses navigate unprecedented financial difficulty through the pandemic and resulting economic challenges, including the supply chain breakdown, record inflation and labor shortages,” Andrew Reiser, chief executive officer, said in a statement. “Today, we are poised and ready to help businesses through their next chapter, whatever stage of growth they might be in.”

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