Tide, the UK’s leading business financial platform, has reached one million customers (members) globally, a significant milestone for the Company. This includes 650,000 members in the UK, and 350,000 in India, where it launched in December 2022. Tide entered the German market in May, where it has started to roll out its product proposition.

More than one in 10 (c.11%) small businesses in the UK use the Tide app. Tide provides a service for small businesses that don’t have their own finance function, such as sole traders and smaller limited companies. Tide offers business accounts and related banking services, including a savings account, but also a comprehensive set of highly usable and connected admin solutions including invoicing, accounting, and company formations.

In the UK, 75% of Tide’s members are based outside Greater London, with 14% in Northwest England, 10% in the West Midlands, and 11% in Southeast England.

These small businesses typically operate in sectors such as e-commerce and construction, while many solopreneurs work as a drivers or couriers. In India, about 90% of Tide members are in semi-urban and rural areas, with Uttar Pradesh, West Bengal, and Madhya Pradesh representing the top three states.