Tide
Overview
Tide is a financial technology firm based in London, UK, focusing on providing digital banking services to small and medium-sized enterprises (SMEs). Founded by George Bevis in 2015, Tide aims to simplify financial management for businesses. The company offers various services, including automated bookkeeping, invoicing, and current accounts. Recently, Tide raised $120 million in a funding round led by TPG, boosting its valuation to $1.5 billion. With over 1.6 million members globally, Tide has expanded its operations into India and continental Europe, maintaining a significant presence in the fintech industry.
Recent Developments
- September 2025: Tide secured a $120 million investment led by TPG, valuing the company at $1.5 billion. The funding supports international expansion and product development, particularly in artificial intelligence capabilities. This investment enables Tide to enhance its presence in Germany and France and further integrate AI into its systems.
- August 2025: Tide launched new services aimed at empowering SMEs, such as the introduction of fixed deposits on its platform. This service aligns with Tide's mission to provide comprehensive financial solutions to its client base.
- May 2024: Tide expanded into the German market, tapping into a new base of about 6 million SMEs. This move is strategic in diversifying its market presence and increasing its overall service offerings.
- 2024: Tide collaborated with ClearBank for a significant grant from the Capability and Innovation Fund, which forms part of RBS’s alternative remedies package, aimed at enhancing financial service options for SMEs.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 18 May 2015 |
| Headquarters | London, United Kingdom |
| Founders | George Bevis |
| Revenue | £177 million (2024) |
| Profits | Not disclosed |
| Key Investors | TPG, Apax Digital Funds, Anthemis, Creandum |
| Industry | Fintech |
| Number of Employees | 2,500+ |
Early History
Tide was founded in 2015 by George Bevis, with a focus on creating digital banking solutions for SMEs. It gained regulatory approval from the UK’s Financial Conduct Authority to provide financial products in 2016. Initial funding of $2 million was achieved from notable investors, including Passion Capital and LocalGlobe. Tide launched its mobile app officially in 2017, allowing businesses to open accounts directly via mobile devices. This move symbolized the company’s mission to streamline banking processes for small business owners.
Company Profile and Achievements
Tide operates as a business management platform dedicated to SMEs, providing tools that facilitate banking, invoicing, and financial administration tasks seamlessly. Key achievements include:
- Integration: Launch of services such as Tide Credit, providing credit solutions directly through the app.
- Technological Growth: Developed partnerships for API integration with financial and accounting software like Xero and Sage, enhancing user experience and functionality.
- Market Expansion: Successfully entered the Indian and German markets, significantly increasing its global footprint.
- Awards: Earned Great Place to Work certification for three consecutive years, emphasizing its positive corporate culture.
Current Operations and Market Position
As a leader in the UK’s fintech sector, Tide offers digital banking services tailored for SMEs. With a competitive 14% market share in the UK and rapid growth in India, Tide’s innovative approach to business banking has allowed it to maintain a strong presence in the sector. Its strategic use of AI enhances service efficiency, allowing the company to handle tasks such as administration, credit management, and invoicing. Tide's freemium model offers a basic account for free, generating revenue through premium memberships and transaction fees.
Conclusion
Tide continues to solidify its role as a prominent fintech player by integrating advanced technologies and pursuing market expansions. With financial backing and a robust platform supporting over 1.6 million members globally, it is well-positioned to influence the digital banking landscape. Its commitment to serving the needs of SMEs globally through innovative solutions positions it for sustained growth and potential future advancements in the financial technology sector.