Tide, the UK-based business management platform, has announced a strategic investment from TPG, the global alternative asset management firm.
The investment, comprising primary and secondary funding of more than US$120 million, raises Tide’s valuation to US$1.5 billion. Existing investor Apax Digital Funds also took part in the round.
The funding, led by TPG through The Rise Funds, will support Tide’s international expansion, product development, and adoption of agentic AI.
The Rise Funds, TPG’s impact investing strategy, has previously invested in over 85 companies.
Oliver Prill, CEO of Tide, said:
“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 6 million 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.”
Yemi Lalude, Partner at TPG and Head of Europe, Middle East and Africa for The Rise Funds, said:
“Tide has built an industry-leading platform that empowers sole traders, micro-enterprises, and small firms across the UK, India, and Germany with tailored products. We are excited to support Tide’s mission to democratise access to financial and administrative services for SMEs, helping them thrive from inception through to growth.”
As part of the deal, Lalude will join Tide’s board.
Tide currently serves 1.6 million members in the UK, India, Germany, and France.
Its platform provides services including business registration, accounting tools, payroll, business accounts, credit solutions, payments, and sales tools.
Featured image credit: Tide
