Capital on Tap eyes five-fold growth in next three years

The SME lender — which recently announced plans for international expansion across Europe and America — will be aiming to increase its loan book, customer volumes and revenue.

In an exclusive interview with Bridging & Commercial, David Luck, co-founder and CEO at Capital on Tap (pictured above), said: “The great thing about fintechs is that they scale really well — particularly in the bank branches — so, for us, a goal we've got is just to continue to grow and ideally get five times bigger within the next three years.

“We currently have signed up 85,000 customers, have £60m turnover and operate a profitable business.

“We’ve doubled our business year-on-year for the last couple of years [and] we'll increase these numbers [through] continued marketing and product improvements.”

David also stated that Capital on Tap had plans in place to enhance its current product offering, in addition to growing its funding lines.

“…With our business credit card product, we want to integrate into more accounting systems to make life more convenient for our customers.

“We also want to build up our rewards platforms … and, lastly, we want to improve our offerings to larger businesses using things like multi-card offerings, so that employers can give our cards to multiple employees to manage spending.

“[We’ll continue to grow] our three funding lines with our current three funding partners and we're also looking for new partners as well; in particular, new partners to go with us as we look to go international.”