Capital on Tap partners with Plaid in the UK

By Gloria Methri

Capital on Tap, the small business credit card and spend management platform, has expanded its partnership with Plaid to the United Kingdom. This builds upon the two companies’ partnership in the US, which began in January 2023.

Capital on Tap will now be able to leverage Plaid’s open banking infrastructure to provide UK small and medium-sized enterprises (SMEs) with more efficient access to funding.

“SMEs are the backbone of the UK economy,” said Brian Dammeir, Head of Europe at Plaid. “We are delighted to play our part in helping Capital on Tap make it easier for SMEs to seek mission-critical funding”.

Capital on Tap began integrating Plaid’s open banking capabilities in the U.S., reducing friction in the lending process, improving risk analysis, and increasing approvals for American SMEs.

“At Capital on Tap, we are excited to extend our partnership with Plaid to our UK market. By leveraging Plaid’s open banking infrastructure, we’re able to provide small and medium-sized enterprises with faster, more efficient access to funding, empowering them to grow and succeed. The seamless integration with Plaid has streamlined our lending process, allowing us to better serve our customers with ease, speed, and unwavering support,” said Damian Brychcy, CEO of Capital on Tap.

Together, these features and benefits mark a significant step forward in how UK SMEs access and manage their finances. Capital on Tap’s integration with Plaid makes lending more accessible and responsive to each business’s circumstances.

Brychcy added, “Prioritising customer experience is at the forefront of everything we do. With Plaid’s integration, we are able to streamline onboarding and enhance credit decisioning for an even smoother customer journey.”

Businesses can now access lending solutions that are automated, insightful, and personalised to their real-time financial profile.

Brychcy said, “As we look ahead, Capital on Tap is committed to continuing our journey of innovation and customer-centric solutions. We are focused on empowering UK and US SMEs by building the best business credit card and spend management platform for small businesses.”