London-based business management platform Tide has become the UK’s latest unicorn, having secured more than £89 million to lift its valuation to over £1.1 billion.
The funding was led by TPG and backed by existing investor Apax Digital Funds.
It marks a milestone for one of Europe’s most successful late-stage FinTech companies and will accelerate international expansion, product development and the company’s investment into agentic AI.
It joins the likes of Revolut, Monzo, Starling Bank and Zopa as a UK-headquartered FinTech with a 10-figure valuation.
The capital comes through The Rise Funds, TPG’s global impact investing platform, which partners with high-growth firms to deliver financial returns alongside scalable positive change.
“Securing this investment from TPG is a major milestone for Tide and a strong endorsement of our growth as the leading global business management platform serving 1.6m members worldwide,” said Oliver Prill, CEO of Tide.
“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% 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 6m 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. Tide is already adopting AI at pace, and the investment will allow us to accelerate this.
“TPG’s support reinforces both our existing strategy and will help deliver our long-term growth potential.”
Tide’s platform serves 1.6m members across the UK, India, Germany and France with tools including fast business registration, accounting and admin support, expense and payroll management, business accounts, credit solutions, payments, and connected sales tools.
Its mission is to save SMBs time and money so they can focus on running their businesses.
Yemi Lalude, partner at TPG and head of EMEA for The Rise Funds, added: “Financial inclusion remains a global challenge for the millions of small businesses that are vital to economic growth and resilience.
“Tide has built an industry-leading platform that empowers sole traders, micro-enterprises, and small firms across the UK, India, Germany with tailored products.
“We are excited to support Tide’s mission to democratize access to financial and administrative services for SMEs, helping them thrive from inception through to growth.
“With this investment, we are proud to expand The Rise Funds’ global fintech portfolio, deepen our commitment to SME financial inclusion, and partner with the outstanding Tide team to accelerate their impact into new markets around the world.”
Alongside the deal, Lalude will join Tide’s board.