Tide, the UK business banking fintech, has secured unicorn status following a £120m funding round.
The financing from asset management firm TPG and existing investor Apax Digital Funds values the fintech at $1.5bn.
Launched in 2017, Tide is one of the UK’s leading SME banks, with a 14% market share. It’s also made steps into other markets in recent years, including Germany and India, where it banks over 800k SMEs.
The funding round is a mixture of new equity and secondary shares sales (the company declined to share an exact split). Prior to today’s funding round, the company has raised funding from investors such as Speedinvest, Augmentum Fintech and Creandum, according to Dealroom.
Tide CEO Oliver Prill says: “Securing this investment from TPG is a major milestone for Tide and a strong endorsement of our growth as the leading global business management platform serving 1.6m members worldwide.”
The funding round will be used to accelerate its international expansion plans — Tide expanded into France earlier this month — and also support its product investment into the buzzy area of agentic AI; tools that act autonomously to complete a wide range of tasks without human intervention. Fellow UK fintech Revolut is also exploring a push into the AI agent space, aiming to use the technology to automate everything from customer service to sales, Sifted revealed earlier this month.
“Tide is already adopting AI at pace, and the investment will allow us to accelerate this,” says Prill.
