UK Fintech Tide Hits $1.5B Unicorn Valuation on India Growth

U.K.-based fintech firm Tide has officially achieved unicorn status, raising $120 million in a recent funding round that values the company at $1.5 billion. The investment was spearheaded by TPG's The Rise Fund, with contributions from existing investor Apax Digital Funds. This significant financial milestone is primarily attributed to Tide's rapid expansion in India, which has become its largest and fastest-growing market since its launch in December 2022. Tide currently serves over 1.6 million micro and small enterprises worldwide, providing a comprehensive business platform that integrates tools for accounting, invoicing, loans, payroll, and expense management. The company's strategic approach prioritizes addressing the unique requirements of this market segment, setting it apart from conventional banking services. Established in the U.K. in 2017, Tide has secured approximately 14% of the nation's small and medium business market and operates profitably within the U.K. However, its rapid onboarding of over 800,000 businesses in India within just two years, surpassing its U.K. customer base, underscores the substantial market opportunity and growth potential for fintech solutions tailored to small businesses in emerging economies.