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London Cards No.1 PLC: 23 June 2023

A securitisation of receivables on a portfolio of business credit card accounts originated by the Transferor (Capital on Tap) in England, Wales, Scotland and Northern Ireland.

Capital on Tap began as a small startup in London in 2012 and, through innovative technology, Capital on Tap has been providing fast funding to small businesses for over ten years.

The securitised portfolio comprises receivables existing and arising from credit card accounts in the New Wave Group’s business credit card operations. For actual portfolio information, please see “Appendix A – Portfolio Information” in the prospectus (available via

UK & EU Risk Retention: The Transferor, as originator, confirms that it will retain a material net economic interest in the securitisation of not less than 5%.

US Risk Retention : The transaction will rely on an exemption provided for in Section 20 of the US Risk Retention rules regarding non-US deals.

Compare/contrast: Newday Funding 2022-3, Oban Cards 2021-1 plc