Tide valued at $650m following funding round

Tide has received $100 million in funding, valuing the British company at more than $650 million.

The UK business financial platform, which has been in operation for just four years, has now raised $200 million in funding to date.

The round was led by funds advised by Apax Digital, the growth equity team of Apax Partners. Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI, and SpeedInvest, existing investors, also participated in the round.

The company more than doubled its user base last year, bringing the number of members up to 350,000. Tide also now has more than 400,000 business accounts.

Earlier this year, Tide announced that it was expanding into India, with a full launch of the platform planned for 2022.

“Partnering with Apax Digital validates Tide’s potential to continue our growth trajectory and gain traction in global markets,” said Oliver Prill, Tide chief executive. “Tide’s growth story to date has been hugely exciting, creating a diverse platform that serves small business owners, as well as generating significant market share.”

Prill added: "As we embark on taking Tide international, we couldn’t have a better set of investors to support us. We look forward to working with Apax Digital to realise our ambition of becoming a leading global business financial platform.”

    Share Story:

Recent Stories


The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.