Tide achieves unicorn status: Start-up receives million-dollar funding

The British fintech start-up Tide has secured fresh capital amounting to 120 million US dollars, reaching an impressive valuation of 1.5 billion US dollars. Thus, Tide joins the ranks of UK unicorns. The funding round was led by private equity firm TPG. Existing investor Apax Digital Funds also participated in the round. With the raised capital, the London-based company plans to drive its international expansion and increase its investment in artificial intelligence. Since its founding in 2017, Tide has been offering small and medium-sized enterprises services in accounting and related administrative solutions such as invoicing and website creation. "We are already utilizing AI at a rapid pace, and the funding will allow us to accelerate this development. The support from TPG strengthens our existing strategy and promotes our long-term growth potential," explained Tide CEO Oliver Prill. Tide joins well-known names like Revolut and Monzo, which have also achieved unicorn status in recent years. Reportedly, Revolut could be valued at almost 65 billion US dollars in its latest funding round.