Tide Raises $100 Million for Fintech Expansion
Tide, a prominent business financial platform based in London, UK, has recently accomplished a significant milestone by raising just over $100 million in its Series C funding round. This remarkable achievement has elevated the total funds raised to date to an impressive $200 million, while the company's valuation has surged to over $650 million post-money. The Series C funding round, which is currently awaiting approval from the Financial Conduct Authority (FCA), was spearheaded by funds advised by Apax Digital, the dedicated growth equity team of Apax Partners. This funding round also saw participation from several existing investors, including Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI, and SpeedInvest, showcasing widespread confidence in Tide's potential and future prospects.
With these newly acquired funds, Tide plans to focus on the further development of its innovative business financial platform, aiming to increase its market share while exploring opportunities for global expansion.
Under the leadership of Oliver Prill, the company's CEO, Tide offers a comprehensive suite of banking services, including business accounts and a variety of related solutions. One of the standout features of Tide's platform is its robust integration capabilities with accounting systems, making it an attractive option for businesses seeking streamlined financial management solutions. Currently, Tide boasts an impressive membership of over 350,000 individuals and manages more than 400,000 business accounts, solidifying its position as a key player in the financial technology space.
Furthermore, Tide's strategic partnership with ClearBank has proven beneficial, as the company has secured nearly $120 million in grants from the RBS Alternative Remedies Package. This funding is expected to enhance Tide's ability to innovate and refine its offerings in the competitive fintech landscape. As the business landscape continues to evolve, Tide's commitment to providing tailored financial solutions positions it favorably among new and existing enterprises. With a clear vision for the future, coupled with substantial financial backing, Tide is set to make significant strides in reshaping business banking and financial services, both in the UK and internationally.
They've invested in Tide
Get to know these Fintech investors
Click here for a full list of 6,481+ startup investors in the UK