Description of the portfolio company
Tide is a leading UK-based challenger bank. It provides an agile banking service designed specifically for SMEs to save them time and money, while providing them with seamless access to a curated offering of the best financial products sourced from third party partners. Next to its leading position in the UK, Tide is also expanding into Germany and India.
Investment rationale
SMEs are increasingly embracing the usage a digital banking, which can be offered at lower cost and with a smoother customer experience. This trend has made Tide the fastest growing (and first mover) digital business banking service provider in the UK and well positioned to grow internationally.