UK fintech startup Tide raises $120M in funding at $1.5B valuation to join unicorn club

Tide has officially crossed into unicorn territory. The London-based digital banking services startup announced on Monday that it raised $120 million in fresh funding, pushing its valuation to $1.5 billion. The round was led by private equity giant TPG, with participation from Tide’s existing backer Apax Digital Funds.

The $120 million round combines both primary and secondary investment. With this funding, Tide positions itself as one of Europe’s leading late-stage fintechs, while leaning into the next phase of product innovation and international expansion.

“This funding will accelerate our international expansion, building on our highly successful and profitable UK business, where we support nearly 800,000 members with 14% of the SMB market. In India, we’ve seen rapid growth and now support over 800,000 Tide members,” the company said in a news release.

Founded in 2017, Tide has carved out a space serving small- and medium-sized businesses with digital banking tools that go beyond payments. Its platform helps SMBs with accounting, invoicing, and administrative tasks, positioning itself as a one-stop shop for business management.

CEO Oliver Prill framed the raise as a pivotal moment in Tide’s growth. “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,” he said.

The company says the cash will be used to push further into international markets and speed up development of new services. That includes a stronger focus on agentic AI—an emerging branch of artificial intelligence that Tide has already begun adopting. “Tide is already adopting AI at pace, and the investment will allow us to accelerate this. TPG’s support reinforces both our existing strategy and will help deliver our long-term growth potential,” Prill added.

Tide has already shown traction abroad. It supports more than 800,000 members in India, has recently entered Germany, and has launched affordable credit products in France. The new funding is intended to build on that momentum, bringing more of Tide’s UK playbook into international markets.

The raise puts Tide in company with other high-profile British fintech unicorns, including Revolut and Monzo. Revolut’s latest funding is expected to value the firm at around $65 billion, underscoring the growing influence of UK-born fintechs in the global market.