Tide, the UK’s leading business management platform for SMBs, has secured a strategic investment of more than $120 million from TPG, with participation from existing investor Apax Digital Funds. The round lifts Tide’s valuation to $1.5 billion and marks a significant milestone as the company expands globally and deepens its AI-driven product roadmap.
The investment was made through TPG’s Rise Funds, its global impact investing platform. Alongside the funding, Yemi Lalude, Partner at TPG and Head of EMEA for The Rise Funds, will join Tide’s Board.
Founded in 2017, Tide serves 1.6 million members across the UK, India, Germany, and most recently France. Nearly 800,000 SMBs in the UK—14% of the market—use Tide’s platform for business accounts, invoicing, payroll, payments, credit, and sales tools. In India, Tide has also surpassed 800,000 members, and is now rolling out credit solutions in France.
“This funding will accelerate our international expansion, building on our highly successful and profitable UK business. We’ll also broaden and deepen our product offering and advance our investment into AI.” ~ ~ Dr. Oliver Prill, CEO of Tide.
Yemi Lalude added, “Tide has built an industry-leading platform that empowers small businesses across multiple regions. We’re proud to support their mission to democratize access to financial and administrative services for SMEs.”
Tide employs more than 2,500 people globally and has raised over $750 million to date.
