Tide reaches 500,000 UK members milestone
As the leading digital business financial platform, Tide has reached 500,000 members in the UK. It’s a significant milestone that means almost one in 10 small businesses now use our services.
Following our 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, we’ve expanded our product range, adding Tide Pro Plan, a new subscription plan that includes unlimited payments and transfers aimed at businesses that plan to scale.
We’ve 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, our 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.
“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.”
Oliver Prill, Tide CEO
This year, we’re also working on Net Zero features to help members kickstart their transition to reducing carbon emissions. In March, we announced that we became the first fintech in the world to remove 100% of emissions, making three pledges to become fully Net Zero by 2030.
In March, we also announced that we have successfully onboarded more than 100,000 female-led SMEs, ten months ahead of our aim to achieve the goal by the end of 2023.
In addition to a strong growth in the UK, we launched a product to micro and small businesses in India last year, becoming one of the few UK fintechs to successfully go live in India. Over the next two years, we plans to onboard 500,000 SMEs in the country. You can learn more on our India website at tide.co/en-in.