A recent $120 million investment led by asset manager TPG has elevated Tide, the UK-based business management platform, to a valuation of $1.5 billion.
In a press release, Tide announced that this funding will be utilized to accelerate its global expansion, enhance product development, and intensify investment in agentic AI technologies.
The funding round featured leading participation from TPG and its impact investing branch, The Rise Funds, along with backing from existing investor Apax Digital Funds.
Oliver Prill, CEO of Tide, remarked, “This investment from TPG marks a significant milestone for our company and reflects strong confidence in our journey as the preeminent global business management platform, now serving 1.6 million members internationally.”
Tide has broadened its reach in recent years, expanding its services to India, Germany, and France, primarily targeting small and medium-sized enterprises (SMEs).
Yemi Lalude, a partner at TPG and head of their operations in Europe, the Middle East, and Africa, expressed enthusiasm for supporting Tide’s mission to democratize access to financial and administrative services. Additionally, Lalude will be joining Tide’s board of directors.