UK business credit card company chooses Atlanta for US headquarters
Capital under pressure, a British company that provides credit cards to small businesses, is setting up a we head office in Atlanta which will eventually hire 150 people.
The Georgia Department of Economic Development announced the new investment while the commissioner Pat Wilson was traveling in London on a recruiting trip.
Mr. Wilson and a large contingent of Georgians were in the UK capital from Sunday, when the Atlanta Falcons won a victory over the New York Jets To Tottenham Hotspur Stadium in London in the rare regular season National football league game played across the pond.
Capital on Tap plans to hire 50 people in the Atlanta subway by the end of this year, and 100 more by the end of 2022. Its current office has 15 employees in Ponce city market, although the press release indicates whether he would expand there or seek a new space.
The company, whose Visa credit cards are issued by Web banking, aims to help small and medium-sized businesses manage their business expenses more easily. Based on strong growth of Europe, the goal is to provide $ 2 billion in financing to the United States over the next 18 months. This is half of the amount it has provided to more than 120,000 UK businesses since the company’s launch in 2012, illustrating the company’s ambitious plans for the largest US market.
âWe chose Atlanta as our headquarters in the United States because of its reputation as a fintech and payments hub,â said Zoe Newman, US Managing Director of Capital on Tap. “There is a depth of talent and experience here that will be invaluable to our continued hyper growth in the United States.”
Ms. Newman, who heads the international expansion, was one of the first employees of the company and the first to be hired straight out of college. She noted that local universities in the Atlanta metro area provide an âincredible recruiting groundâ to support the growth of Capital on Tap.
Capital on Tap launched in the United States only in March. The standard credit card is free and offers unlimited 1% cash back, while a premium founder card includes 2% cash back and annual fees which are currently waived for the life of the account via an introductory offer.