UK fintech Tide attains unicorn status, with $120M funding round

Tide, the UK business management platform, has attained unicorn status, following a $120m funding round. The funding round was led by a "strategic investment" from TPG, the asset management firm, which is a new investor in Tide, and existing investor, Apax Digital Funds, and now values Tide at $1.5bn.

Tide, which also has a presence in Germany and India, was previously valued at $650m in 2021, when it secured a $100m investment from Apax Digital Funds.

TPG’s investment is a mix of new equity and share sales from Tide employees, ex-employees, early angels and minority investors.

Tide, which has also recently launched in France, said: "We always want to provide early investors, employees and ex-employees with the opportunity to realise some of the gains they've made along the way."

Tide said the funding will be used to speed up its international expansion, support product development and advance its investment into agentic AI.  

Tide, which launched in 2017, calls itself a business management platform and targets SMBs, offering business accounts, accounting and other business administrative services. It has nearly 800,000 SME customers in the UK and more than 800,000 SME customers in India.  It has also launched in Germany in 2024 and in France, last month.

Oliver Prill, CEO of Tide, said: “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 per cent 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.

“This investment will also fuel product innovation and means we can broaden and deepen our offering, helping our members everywhere save time and money.”