UK business banking paltform Tide has raised over $100 million in Series C funding at a valuation of $650 million.
Tide, which has recuited 350,000 SMEs and opened over 410,000 business accounts since its launch in the UK in 2017, says the funding will be used to support its international expansion strategy.
The injection of cash comes just weeks after the firm announced plans to kickstart its international expansion strategy in India, with a committment to invest £100 million and create 1000 jobs over the next five years.
The new funding round was led by Apax Partners with support from existing investors Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI, and SpeedInvest. It brinds the firm's total funding since inception to $200 million.
CEO Oliver Prill says: “Partnering with Apax Digital validates Tide’s potential to continue our growth trajectory and gain traction in global markets.”