The said funding deal talks could push its valuation to $1 billion
Tide, a UK-based SME lender, is in advanced investment conversations with venture capital firm Apis Partners, which may boost the business banking platform’s worth to $1 billion, according to British news organisation Sky News.
Apis Partners, known for its strong fintech portfolio, has previously backed companies such as Moneybox, a UK digital wealth manager, and Thunes, a cross-border payments infrastructure provider. The investment group has also made a series of strategic bets in India—a market that is now Tide’s fastest growing and is set to overtake the UK as its largest.
The potential deal, which would see Tide join the growing list of British tech “unicorns”, is not yet finalised. Other investors are also reportedly in discussions, and no agreement has been confirmed.
Founded in 2015 by George Bevis and Errol Damelin, Tide launched in 2017 and currently serves around 650,000 small and medium-sized enterprises across the UK and India. The fintech now commands roughly 10% of the UK’s SME banking market and employs around 2,000 people. It recently expanded into Germany in May 2024.
Tide is chaired by Donald Brydon, a seasoned leader in finance and corporate governance. Its current investors include Apax Partners, Augmentum Fintech, and LocalGlobe.
The upcoming funding round is expected to include a mix of primary and secondary share sales. While financial terms remain under wraps, the deal would mark a significant milestone for Tide, which positions itself as one of the UK’s leading business financial platform, offering integrated services including business accounts, invoicing, and accounting tools.
Tide was last valued at slightly over $650 million after closing its $100 million Series C, headed by the Apax Digital Fund, in 2021.
