Fortune 500 company Capital One is developing its business-to-business (B2B) services web. Capital One is the latest company to expand its B2B and small- and medium-sized business reach following others such as Visa, Southwest, RBS, UBS, WESCO and others. The company announced last week the acquisition of Maine-based BlueTarp Financial, which specializes in customized B2B credit programs for U.S. SMBs.
"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, in a release.
BlueTarp establishes seamless purchase-to-payment processes within the realm of AR management, cash flow and risk protection. "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, in the release.
The transaction is expected to close in the third quarter of this year.
-Michael Miller, managing editor