UK Fintech Tide Secures $120M Funding, Valuation Reaches $1.5B

UK-based fintech Tide has raised $120 million in a funding round led by TPG, valuing the company at $1.5 billion, more than doubling its 2021 valuation of $650 million. Tide serves 1.6 million small and microenterprise customers globally, with over half, around 800,000, based in India, which is its fastest-growing market. The funding includes a mix of primary and secondary capital, enabling the company to expand operations internationally, particularly in India and continental Europe, and invest in artificial intelligence to enhance its product offerings. Tide focuses on providing tailored financial services such as business accounts, invoicing, expense management, credit products, and more, targeting the unique needs of small businesses. While profitable in the UK, Tide is investing heavily in new markets like India to formalize small enterprises and expand its footprint. The latest round also saw TPG's partner Yemi Lalude joining Tide’s board, reinforcing strategic guidance for further growth.