U.K.-based fintech startup Tide has reached a $1.5 billion valuation after raising $120 million in a new round led by TPG’s Rise Fund, with participation from Apax Digital Funds. The round included a mix of primary and secondary investment, though Tide did not disclose the breakdown.
Founded in 2017, Tide offers a unified business platform tailored for micro and small enterprises, providing services like invoicing, accounting integrations, loans, expense cards, payroll, and company registration.
While Tide has built a strong presence in the U.K., where it serves 14% of the SME market and is already profitable, India has quickly become its largest and fastest-growing market. Since its expansion there in December 2022, the startup has onboarded more than 800,000 Indian businesses, surpassing its U.K. base. India is home to roughly 60 million micro and small businesses, which collectively employ over 250 million people.
CEO Oliver Prill said Tide is focused on helping businesses move away from cash and into formal financial systems, noting, “Our biggest enemy is cash, and not any competitors.”
Tide expects to cross one million Indian members by the end of 2025, with strong traction coming from tier-3 cities and beyond, according to Gurjodhpal Singh, CEO of Tide India. The company partners with around 25 lenders in India to facilitate business credit and also supports UPI payments, bill payments, and deposits.
Fintech has also expanded into Germany (2024) and France (2025), adapting its services to each local market with language and regulatory support.
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With the new funding, Tide plans to accelerate global expansion, enhance its product offerings, and invest in agentic AI solutions to strengthen its platform for small businesses.
The startup now employs over 2,500 people worldwide.
