• Magazine
    • Interviews
    • Re-/Launch
    • Funding
    • Acquisitions
    • Other Stuff
    • Know-How
  • Summit
    • EU-Startups Summit 2022
    • 2020/2021 edition
    • 2019 edition
    • 2018 edition
    • 2017 Edition
    • 2016 Edition
    • 2015 Edition
    • 2014 Edition
  • Job Board
    • Job Board
    • Post a Job
  • Insights
    • Premium Reports
    • Startup Sourcing
    • Podcast
  • Database
    • Startup Database
    • Add a startup
  • About us
    • Mission / Team
    • Advertising
    • Our Newsletter
  • –CLUB–
    • Register Now
    • Log In
    • CLUB Benefits
Search
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
EU-Startups
  • Magazine
    • Interviews
    • Re-/Launch
    • Funding
    • Acquisitions
    • Other Stuff
    • Know-How
  • Summit
    • EU-Startups Summit 2022
    • 2020/2021 edition
    • 2019 edition
    • 2018 edition
    • 2017 Edition
    • 2016 Edition
    • 2015 Edition
    • 2014 Edition
  • Job Board
    • Job Board
    • Post a Job
  • Insights
    • Premium Reports
    • Startup Sourcing
    • Podcast
  • Database
    • Startup Database
    • Add a startup
  • About us
    • Mission / Team
    • Advertising
    • Our Newsletter
  • –CLUB–
    • Register Now
    • Log In
    • CLUB Benefits
Home Funding London-based ...
  • Funding
  • UK-Startups

London-based Tide raises $14 million to further develop its mobile-first banking service for SMEs

By
Thomas Ohr
-
July 4, 2017
Share on Facebook
Tweet on Twitter
tide-fintech-startup-team

Tide, the mobile-first SME banking service has raised $14 million in one of the largest Series A investment rounds closed by a fintech company this year. Founded in 2015 and launched in 2017, Tide is a one-stop shop for eliminating the administration which blights the professional lives of business owners, to make running a successful business easier. The funding round has been led by the London-based fintech investor Anthemis, alongside Creandum, the Scandinavian fund that has backed global leaders including Spotify and iZettle. Existing investors Passion Capital and LocalGlobe have also participated in the round, which follows the $2 million seed investment last year.

The fresh capital will be used to expand Tide’s workforce at its central London headquarters and develop more features to help the UK’s small and medium-sized businesses manage their finances quickly and efficiently.

The fundraising coincides with the announcement of a partnership with online lender iwoca, which will offer Tide’s members loans of up to £100,000 from later this summer. iwoca’s risk engine makes instant lending decisions based on complex data sets. This allows it to assess the millions of small businesses currently neglected by the banks, offering them fast and flexible access to finance.

Tide users can set up a fully-functioning business current account within five minutes using their passport or driving license. Alongside banking and payment facilities, Tide provides invoicing and bookkeeping services which aim to ease the administrative burdens faced by thousands of small companies. New features under development include multi-user access to accounts and service availability in multiple currencies.

George Bevis, Tide founder and CEO, stated: “Our investors believe there is a real opportunity to support and champion small and medium-sized companies in the wake of Brexit. Britain’s smaller firms have been let down by traditional banks, which often charge vulnerable companies eye-watering fees and keep them waiting weeks to open a business account. By providing our members an instant, transparent business credit facility, which for some was difficult to obtain on the high-street, we’re also making it easier for small and medium-sized companies to get the finance they need to grow.”

  • TAGS
  • Anthemis
  • FinTech
  • mobile bank account
  • mobile banking
  • Passion Capital
  • Series A
  • Tide
SHARE
Facebook
Twitter
  • tweet
Previous articleParis-based fintech startup Qonto secures €10 million from Valar Ventures and Alven Capital
Next articleUK-based MortgageGym secures £500,000 of additional seed funding from a former COO of Deutsche Bank
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

RELATED ARTICLESMORE FROM AUTHOR

Copenhagen-based Januar secures €6 million to launch compliant crypto gate for European busines...

Berlin and Brussels-based startup Accountable has banked a total of €10 million for its tax app...

French sustainable neobank Helios picks up €9 million for its fintech-for-good that’s protectin...

UK-based Pillar picks up €15.6 million to tackle credit access problem for migrants

Tangany-founders

Munich-based fintech startup Tangany raises €7 million to continue their Wallet as a Service gr...

Greek-founded startup Wealthyhood raises over €900k for its innovative wealth-building app for ...

Startup News – sorted by country
  • Austria
  • Belgium
  • Croatia
  • Czechia
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • UK
Receive our weekly Newsletter
This Week’s Popular Posts
  • Polish business travel platform Hotailors scores €23 million to fuel international growthPolish business travel platform Hotailors scores €23…
  • 10 reasons why you should join a startup in 202110 reasons why you should join a startup in 2021
  • 10 Netflix documentaries every entrepreneur should see10 Netflix documentaries every entrepreneur should see
  • Barcelona-based Freeverse.io picks up €10 million to create living assets - a new innovation in the NFT marketBarcelona-based Freeverse.io picks up €10 million to…
  • Vienna-based byrd raises €53 million to strengthen its position in Europe’s e-commerce fulfilment marketVienna-based byrd raises €53 million to strengthen its…

Our Channels

36,500FansLike
16,800FollowersFollow
58,000SubscribersSubscribe
41,800FollowersFollow
Latest Jobs
The Business Development Representative
Brasov, Romania
Ecosystem Partnership Manager (m/f/d)
Munich, Germany
Principal Cloud Security Engineer
London, United Kingdom
Security Engineer
London, United Kingdom
Software Engineering Manager - Backend (OPEN TO UK REMOTE)
Remote, United Kingdom
View All
Advertising
ABOUT US
EU-Startups.com is the leading online magazine about startups in Europe. Learn more about us and our advertising options.
FOLLOW US
© Menlo Media S.L. - All rights reserved.