London-based Tide, which offers SMEs a digital platform combining business banking and integrated administrative tools, has raised $120 million, increasing its valuation to $1.5 billion and earning it unicorn status.
- Launched in 2017, Tide offers a business management platform tailored for small and medium-sized enterprises (SMEs). It combines digital business accounts with a range of administrative tools, including invoicing, accounting, expense tracking, payroll, and website creation.
- By integrating these services into a single platform, Tide enables SMEs to handle essential financial and operational tasks more efficiently. Operating in the UK, India, Germany, and France, the platform serves over 1.6 million businesses.
- Its technology supports fast onboarding, low-cost banking, real-time transaction tracking, and automated workflows, helping to reduce administrative overhead and simplify daily business operations.
Details of the deal
- The investment was led by TPG through its multi-sector impact investing platform, The Rise Fund, with participation from existing investor Apax Digital Funds, a $1 billion private equity growth fund.
"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. With this investment, we are proud to expand The Rise Funds’ global fintech portfolio, deepen our commitment to SME financial inclusion, and partner with the outstanding Tide team to accelerate their impact into new markets around the world," claims Yemi Lalude, Partner at TPG and Head of Europe, Middle East & Africa for The Rise Funds.
- Tide will use the $120 million funding to accelerate international expansion in India, Germany, and France, invest in agentic AI for smarter automation, and develop new business management tools covering accounting, payments, payroll, and credit solutions, helping SMBs operate more efficiently and scale globally.
“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. This investment will also fuel product innovation and means we can broaden and deepen our offering, helping our members everywhere save time and money," CEO of Tide, Oliver Prill, commented.
