Small businesses around the world face a constant challenge in managing a complex mix of invoices, taxes, loans, and payments. Many traditional banks have fallen short of addressing these specific needs. Tide, a fintech company based in the U.K. and founded in 2017 by George Bevis, took a fresh approach.
Rather than offering a basic business bank account, Tide built an integrated digital platform tailored for micro and small enterprises. Their all-in-one suite combines core banking services with business tools, including loans, payroll, expense cards, invoicing, accounting integrations, and even company registration services.
Their bet has paid off: with a recent $120 million funding round led by TPG’s Rise Fund, Tide’s valuation has grown to $1.5 billion, driven largely by rapid growth in India, now its largest market by user count.
Prill and Edmunds saw early on that small businesses don’t fit the mould big banks cast. So they created an integrated platform that goes way beyond banking. In India, Tide taps seamlessly into the government-backed Unified Payments Interface (UPI), making payments instant and simple.
It also helps businesses navigate India’s tricky Goods and Services Tax (GST) system. Credit access, often tough for micro businesses, gets a boost through Tide’s AI-powered matchmaking, connecting members to 25+ lenders tailored to each business’s needs.
Tide sets itself apart from local fintechs like Paytm Postpaid, Razorpay, and Jupiter, which tend to focus narrowly on payments or credit. It also differentiates itself from Europe’s heavy hitters, such as Revolut, Starling, and Monzo, which deliver excellent banking but not a fully integrated suite of business management tools.
With this latest funding, Tide is betting big on expanding its global footprint and doubling down on product innovation. The emphasis isn’t just on growth; it’s on helping millions of small, cash-reliant businesses get formal, transparent, and creditworthy.
As CEO of Tide, Oliver Prill likes to say that Tide’s true rival is the informal cash economy that still dominates many emerging markets.
