UK based digital business financial platform Tide has raised over $100 million in Series C funding. The round was led by Apax Digital, the growth equity team of Apax Partners. Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI, and SeedInvest, existing investors in the company, also participated in the round.With this funding, Tide has raised a total of $200 million till date. The company is now valued over $650 million post-money said a statement.

Founded in 2017, Tide is a business banking platform aimed at saving small businesses time (and money) on their banking and admin. The firm has so far recruited 350,000 SMEs and opened over 410,000 business accounts since its launch. The company claims to have doubled its user base in the UK in 2020.

Tide had announced in 2021 that it was planning to expand into India, with a full launch of the platform planned for 2022. The firm also said that it plans to increase its headcount in India with the addition of 350 professionals in 2021 across Hyderabad and Gurugram. This move will increase the company's total headcount in India over 400 people.

"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," said a statement released by the company.

"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," said Oliver Prill, CEO, Tide.