Tide, the UK-based business management platform for small and medium-sized firms, has secured fresh backing as it continues its rapid growth across Europe and beyond.
The company confirmed it has raised more than $120m in a funding round led by TPG, with support from existing backer the Apax Digital Funds. The deal pushes Tide’s valuation to $1.5bn.
Founded in 2017, Tide offers an all-in-one digital platform designed to simplify and connect the day-to-day financial and administrative needs of small businesses. Its services span accounting, expense management, payroll, payments, business accounts, credit solutions, and sales tools such as website building.
The new investment will be used to accelerate Tide’s international expansion, strengthen its product pipeline, and scale its investment in agentic AI.
Oliver Prill, Tide CEO, said, “Securing this investment from TPG is a major milestone for Tide and a strong endorsement of our growth as the leading global business management platform serving 1.6m members worldwide.
“This funding will accelerate our international expansion, building on our highly successful and profitable UK business, where we support nearly 800,000 members with 14% of the SMB market. In India, we’ve seen rapid growth and now support over 800,000 Tide members.
“We’ve also launched in Germany, a large market with nearly 6 million SMEs, and very recently launched our affordable credit solutions as our first proposition in France. Over time, we’ll bring the full richness of Tide’s UK platform to each of our international markets.”
Yemi Lalude, TPG partner, added, “Financial inclusion remains a global challenge for the millions of small businesses that are vital to economic growth and resilience. Tide has built an industry-leading platform that empowers sole traders, micro-enterprises, and small firms across the UK, India, Germany with tailored products. We are excited to support Tide’s mission to democratize access to financial and administrative services for SMEs, helping them thrive from inception through to growth.”
Source: https://fintech.global/
