Tide

Tide is a UK-based Fintech providing a mobile-first financial services for SMEs. It enables businesses to set up a current account and get access to various financial services, including automated book-keeping and integrated invoicing. 

Established in 2015, the Tide app was in beta mode until its official launch in January 2017. That same year, Tide launched Tide Credit, offering credit lending of up to £150,000 through the app. 

Tide has created a range of finance tools for its users. This includes a Mastercard debit card for business transactions, automated book-keeping, invoicing, account software and more. It also offers Tide Plus, which is an upgraded account that offers extra support for business owners.

Tide has over 100,000 members, and claims 1 in 12 new business accounts opened in the UK is with Tide. Tide is targeting a UK market share of at least 8% by 2023 (as of August 2019, it holds a 1.75% share).

In October 2019 Tide raised £44m in its first round of Series B funding, in a round led by Augmentum Fintech and SBI Group. It expects to complete a second round by the end of 2019. The funding is expected to help Tide to increase its share of the UK business banking market, as well as scale geographically.

Previous investors in the Fintech include Passion Capital, Anthemis Group, Creandum and Goodwater Capital.

Tide was founded by George Bevis, a banker, and Eileen Burbidge, the UK Government advisor, venture capitalist and founder of Passion Capital. The company is headquartered in London, with a second office in Sofia, Bulgaria.