Scott Simpson, CEO of BlueTarp

US-based lending solutions provider Capital One has agreed to acquire B2B trade credit financing company BlueTarp Financial. The acquisition is expected to enhance service features for Capital One’s co-brand and private-label credit cards. The acquisition is expected to be closed in the third quarter of 2019.

“BlueTarp offers a unified purchase-to-payment system and fosters strong banking relationships with large merchants and small- to medium-sized businesses alike,” said Buck Stinson, senior vice president of Card Partnerships at Capital One. “We are looking forward to integrating BlueTarp and its innovative technology and services into Capital One’s card partnerships business, enhancing our service capabilities for existing and future partners.”

Established in 1999, BlueTarp delivers B2B credit management programs to merchants and SMEs and allows for a purchase-to-payments process.

“As an emerging leader in the business-to-business credit management industry, we were eager to identify a like-minded partner who could help us transform this sector on a much larger scale,” said Scott Simpson, CEO of BlueTarp. “We look forward to leveraging our fully developed trade credit technology platform and delivering significant value to Capital One’s existing and future partners.”

Founded in 1994, Capital One Financial Corporation is a banking company focused primarily on consumer and commercial lending and deposit origination.

by Megha Bhattacharya
Market Analyst at IBS Intelligence