"The new round - a mix of primary and secondary investment, though the startup declined to confirm the exact split - values the eight-year-old startup at $1.5 billion. It includes share sales by employees, early angels, and a few minority investors. TPG backed the round through its multi-sector impact vehicle, The Rise Fund, which has invested in over 85 mission-driven companies. Existing investor, the Apax Digital Funds, also participated."
"Initially launched in the U.K. in 2017, Tide expanded into India in December 2022 to tap into the country's vast base of small enterprises - around 60 million micro and small businesses employing over 250 million people, per the recent Indian government data. Since its entry, Tide has onboarded more than 800,000 Indian businesses, which it refers to as "members" - surpassing its U.K. member base of nearly 800,000."
Tide secured $120 million in funding led by TPG at a $1.5 billion valuation, a mix of primary and secondary investment including share sales by employees, early angels, and minority investors. TPG's Rise Fund and Apax Digital Funds participated. Tide provides a unified business platform for micro and small enterprises with tools for accounting integrations, invoicing, loans, asset finance, payroll, expense cards, and company registration. The startup serves over 1.6 million members globally, with more than half based in India. Tide expanded into India in December 2022 and has onboarded over 800,000 Indian businesses. Tide is profitable in the U.K. and serves about 14% of the country's SMB market.
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