Tide Eyes Unicorn Status With Share Sale
Hey Digital Banking Fanatic!
London-based business banking provider Tide is preparing a share sale that could push its valuation beyond $1bn, positioning it to become one of Britain’s next FinTech ‘unicorns’🦄
The move, coordinated by Morgan Stanley, comes as the firm looks to offer liquidity to existing investors and potentially raise new equity later this year.
Founded in 2015, Tide has established a presence among small and medium-sized enterprises, serving around 650,000 customers, or 11% of the UK’s SME banking market. The planned share sale signals a new phase for the company, following its $650m valuation in a 2021 funding round and the £100m debt facility it secured last week from UK investment manager Fasanara Capital.
While final terms remain under wraps, the secondary share sale signals broader currents stirring in UK FinTech. After a subdued period driven by rising interest rates, capital is flowing again, though caution lingers. “Valuations reached a peak in 2021,” recent reports noted, and companies like TrueLayer and PrimaryBid have since seen steep write-downs.
For Tide, with operations now stretching from the UK to India and Germany, the coming months will test both investor appetite and market confidence in business banking platforms built for the digital era.
Read all the other Digital Banking industry news below 👇 and I'll be back with more tomorrow!
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