We like to let you know when we have big news.
In July, Tide secured $14m of investment from high-profile venture capital firms to grow our team and develop more services for Tide members. The cash raised came from backers including specialist fintech fund Anthemis, and Creandum, the Scandinavian fund that has backed music-streaming platform Spotify and card payments processor iZettle. Money was also raised from Tide’s existing investors Passion Capital and LocalGlobe. We have got this far thanks to the incredible businesses that we are lucky to call our members, so thank you!
The money will be used to build a range of new features and give our app and website a face-lift. Tide has partnered with online lender iwoca to offer loans of up to £100,000 which will be available in the near future. Our integration with Xero, the market-leading accounting software, is also underway. There are other plans on the cards; next year we’ll be taking Tide overseas with the aim of becoming a global service that supports 50m small and medium-sized businesses by 2026.
Onwards and upwards!