Tide, one of the UK’s biggest fintech startups, has just hit a $1.5 billion valuation. Its success is driven by its deep penetration in the Indian market. The company has set out to onboard one million small and medium businesses based in India by the end of 2025. This goal further proves its deep commitment to empowering small businesses across the territory. Tide successfully launched in India in December 2022, where they’ve quickly onboarded more than 800,000 Indian businesses. It collaborates deeply with about 25 of those lenders to get more credit into the hands of these small businesses.
Established in 2017, Tide initially concentrated on its home UK market, where it now counts close to 800,000 active members. The fintech company is now responsible for around 14 per cent of the UK’s small and medium enterprise space. With over 2,500 employees across its global operations, Tide is poised for substantial growth as it continues its expansion strategy.
Tide’s India CEO, Gurjodhpal Singh, emphasized the company’s objective to provide a unified business platform that offers tailored tools ranging from accounting integrations to business loans and payroll services. This whole suite really addresses the different needs of micro and small businesses. These companies are growing quickly in the Indian market.
It is estimated that every year about five million new micro and small enterprises are created in India. As Oliver Prill, CEO of Tide, noted, “In India, there’s a debate, as the growth rate slowed a little bit, but it’s still a hugely impressive growth rate. You look at continental Europe or the U.K., the growth rate is a lot less.”
The company understands that cash transactions are a major hurdle in its pursuit for increased formalization in the Indian marketplace. Prill stated, “There is a huge trend to formalization. So, our biggest enemy is cash, and not any competitors.” By providing financial tools and resources, Tide aims to help businesses transition from cash-based operations to more structured financial frameworks.
While Tide is primarily engaged with the Indian operations, it is advancing rapidly on the European front. In May 2024, it started operating in Germany and then expanded its operations to France in early 2025. This impressive growth trajectory illustrates Tide’s strategic ambition for international growth and intention to leverage market opportunities.
Prill expects significant changes in Tide’s business model in the next few months and quarters. He stated, “In the next few months and quarters, you’ll see some major developments in that area.” This suggests that Tide is continuously innovating and adapting its services to better meet the needs of its growing customer base.
As Tide works on scaling its operations and refining its offerings, it’s intensely focused on being the go-to player in the fintech revolution for small businesses in India and all of Europe. The company’s ability to navigate challenges and leverage emerging opportunities will be key to its ongoing success in these markets.
