Tide, a provider of digital business banking services in the UK, has announced that it has secured $100 million in the latest financing round led by Apax Digital Fund.
“The Series C round, which has brought the total funding raised to date to $200 million, also saw participation from existing investors, including Anthemis, Augmentum, Jigsaw, Local Globe/Latitude, UK-based investor SBI, and SpeedInvest,” according to a statement.
“Tide is now valued at over $650 million post-money after only four years of operation”, the statement added.
It further said, “The new funding puts Tide in a position to continue to develop their business financial platform, grow their market share, as well as expand globally. Tide, in partnership with ClearBank, has also been awarded a total of nearly $120 million in grants from the RBS Alternative Remedies Package.”
“Tide’s growth story to date has been hugely exciting, creating a diverse platform that serves small business owners and generating significant market share. As we embark on taking Tide international, we couldn’t have a better set of investors to support us,” added Oliver Prill, CEO, Tide.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.