UK-based fintech Tide raises $120 million led by TPG, enters unicorn club
Mumbai: The UK -based TİDE collected over $ 120 million in a funding round led by TPG and worth $ 1.5 billion to Fintech. According to the market intelligence platform Tracxn data, Tide, which considered India as the fastest growing market, was worth approximately 650 million dollars in 2021 in 2021.
The company said in a statement on September 22, TPG’s The Rise funds, as well as TİDE’s current investor APAX digital funds has also invested in the last donation collection tour.
The 120 million dollar donation collection sold the existing shareholders in TİDE to other investors.
Tide added that it would use its international expansion, product development and use to invest in the agent artificial intelligence – without human intervention.
“To secure this investment from the TPG is an important milestone for the TDE, and the strong approval of our growth as a leading global business management platform serving 1.6 million members worldwide, Ol Tide General Manager Oliver Pilll said.
TPG partner feed Lalude will participate in the Tide’s Board of Directors as part of the investment.
According to media reports, in May, the TDİ acquired a £ 100 million securization debt from Fasanara Capital to expand the short -term cash flow management products in the UK.
Before that, the company gathered $ 100 million in July 2021 and increased its total equity donation to Triplepoint Capital, Indian State Bank, APAX digital funds, Augmentum fintech and Crandum.
Founded in 2017, Tide offers integrated administrative solutions such as first business accounts and billing, expense management, accounting, payments and credit products. The company employs more than 2,500 people globally.
In the late 2022, TIDE launched its activities in India and has more than 800,000 small and medium -sized business customers in the country.
“This strategic investment points to an important moment for the tide in India. Rapidly scaling and strengthening our role as the key driving of our global growth, Gur
Tide has 14% of the UK market with approximately 800,000 SME members. The company was launched in Germany in December and opened its activities in France in September this year.
Morgan Stanley was Tide’s Special Financial Advisor and Settlement Agency for the last donation collection, and Torch Partners advised TPG.
Tide reported £ 177.2 million for 2023-24 and reported £ 14.2 million. FY25 numbers are not available.
