India will become the engine of Tide’s global growth
A big news has come for India’s small and medium business (SME) sector. Britain’s leading business management platform Tide has announced that it will invest Rs 6,000 crore (500 million euros) in India. This investment will start from the year 2026 and continue for the next five years. This step of the company reflects India’s rapidly growing economy and its confidence in the fintech sector.
Tide goes ahead of earlier promise
This new investment by Tide is six times more than its earlier promise of 100 million euros. The company had completed this previous target before the scheduled time. Tide says that India’s SME market is full of potential, and this investment is the result of this confidence.
800 new jobs in the next 12 months
The company said that under this investment it will create more than 800 new jobs in the next one year. With these new recruitments, the total number of Tide employees in India will be around 2,300. The new jobs will include areas like product development, software engineering, marketing, member support and operations. Currently, Tide has more than 1,500 people working in Delhi, Hyderabad and Gurugram.
India will become the engine of Tide’s global growth
The decision follows Tide’s recent $120 million strategic investment round, which was led by TPG, a global asset management firm. With this investment the value of the company has reached $1.5 billion. Tide is now looking at India as its core growth hub.
Tide CEO Oliver Prill said, India is one of the largest and exciting SME markets in the world. This is an important part of our global growth strategy. India’s entrepreneurial environment and its amazing talent give us confidence that we will be able to further empower small businesses here.
India becomes Tide’s fastest growing market
Tide launched its services in India in late 2022, and in just two years the company has onboarded more than 8 lakh small businesses (SMEs). India now has the highest share among Tide’s 1.6 million global users. Due to this, India has not only become a big market for the company, but has also become its innovation centre.
Gurjodhpal Singh, CEO of Tide India, said, Indian SMEs are rapidly adopting digital tools and are in a new phase of growth. This investment of ours will further strengthen local solutions in India and bring new innovations as per the needs of small businesses.