Business banking platform Tide reportedly plotting £50m fundraise via share sale
UK-based business banking platform Tide is reportedly gearing up to raise more than £50 million through a new share sale, according to a report by Sky News.
Tide reportedly gearing up for £50 million share sale
Sky News reports that the offering may involve the issuance of new shares, as well as an opportunity for existing investors to reduce or offload part of their stakes.
Tide has reportedly held discussions with investment banks such as Morgan Stanley, while also engaging advisers as part of its preparations for the potential share sale, according to the report.
Both Tide and Morgan Stanley declined to comment on the report when contacted by FinTech Futures.
Founded in 2015, Tide was last valued at just over $650 million with the closing of its $100 million Series C, led by the Apax Digital Fund, in 2021.
With operations in the UK, Germany and India, Tide provides business banking services to over one million SME customers, including business accounts, and expense management, invoicing and accounting tools.
Last October, the company acquired London-based payroll solutions provider Onfolk for an undisclosed sum, with plans to integrate it into the Tide app under the name ‘Tide Payroll’.
