UK FinTech Tide Secures £100M Investment from Fasanara to Enhance SME Lending Solutions
Tide, a prominent UK-based financial platform, is revolutionizing cash flow management for small and medium-sized enterprises (SMEs) worldwide. Recently, Tide has successfully secured a significant £100 million securitisation debt facility from Fasanara Capital, a respected investment manager based in London with over $4.5 billion in assets under management. This strategic partnership is poised to enhance Tide’s offerings, particularly in providing short-term cash flow solutions to its extensive network of UK SME members.
Financial Boost for UK SMEs
The financial injection from Fasanara Capital will enable Tide to distribute over £300 million in working capital loans throughout the UK. This initiative aims to address the critical need for flexible funding among SMEs, allowing them to manage their cash flow more effectively.
About Tide: Empowering SMEs Since 2015
Founded in 2015 and officially launched in 2017, Tide has rapidly grown to support approximately 650,000 SMEs in the UK, accounting for more than 10% of the market share. The platform provides a comprehensive suite of services including:
- Business accounts
- Payment services
- Administrative tools
- Access to credit
International Expansion
Tide is not only focused on the UK market but has also expanded its reach internationally. The platform launched in India in December 2022 and plans to enter the German market in September 2024.
Insights from Tide’s Leadership
Oliver Prill, CEO of Tide, emphasized the importance of flexible financing options for SMEs, stating, “As one of the UK’s leading SME lending intermediaries, we collaborate with over 120 lenders to offer strategic funding solutions. Our Tide Credit Flex mechanism allows small businesses to manage payments more effectively, helping them avoid cash flow issues.”
Prill further added, “The new facility from Fasanara will enable us to enhance our Credit Flex offerings, benefiting more members and improving the efficiency of our services.”
Fasanara Capital’s Perspective
Francesco Filia, CEO of Fasanara, remarked, “Our partnership with Tide aligns perfectly with our vision of leveraging fintech innovation to deliver tailored credit solutions at scale. We are excited to support Tide in providing essential working capital to hundreds of thousands of UK SMEs, helping them grow and succeed.”
For more information about Tide and its offerings, visit their official website: Tide. To learn more about Fasanara Capital and their investment strategies, check out Fasanara Capital.
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