Tide Reaches 500,000 UK Members Milestone
29 March 2023 - 1:35PM
Business Wire
Tide, the leading digital business financial platform, has
reached 500,000 members in the UK - a significant milestone that
means almost one in 10 small businesses now use its services.
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Tide Reaches 500,000 UK Members Milestone
(Photo: Business Wire)
Following its launch in 2017, Tide is now a key provider of
finance and admin services to UK small and medium enterprises
(SMEs) and is continuing to grow. In the last 12 months, Tide has
expanded its product range, adding Tide Pro
Plan, a new subscription plan that includes unlimited
payments and transfers aimed at businesses that plan to scale.
It also launched Tide Accounting to offer an end-to-end
accounting and tax solution for small businesses, in partnership
with accounting software firm Sage. The addition of payment
acceptance, expense cards, invoice tracking and cash flow
management has bolstered Tide solutions to help SMEs.
Tide recently acquired Funding Options, a leader in SME credit
intermediation. Over time, members will gain access to Funding
Options’ panel of more than 120 lender partners, creating a major
new marketplace for SME credit in the UK.
Tide also plans to roll out Net Zero features for members this
year to help them kickstart their transition to reducing carbon
emissions. In March, Tide announced it became the first fintech in
the world to remove 100% of emissions, making three pledges to
become fully Net Zero by 2030.
Tide also announced early in 2023 that it had successfully
onboarded more than 100,000 female-led SMEs, ten months ahead of
its aim to achieve the goal by the end of 2023.
Oliver Prill, Tide CEO, said: “Half a million members is
a real testament to the quality of our products and services. I am
delighted to welcome them all to Tide. Our mission to help SMEs
save time and money is proving to be a success with more and more
small businesses choosing to open their accounts with Tide. From
Net Zero to supporting more female business owners, we plan to roll
out more products and services this year to help SMEs launch and
run their businesses.”
Tide launched a product to micro and small businesses in India
last year, making it one of the few UK fintechs to successfully go
live in India. Over the next two years, Tide plans to onboard
500,000 SMEs in the country.
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For further information, please email: tide@secnewgate.co.uk