This investment round was led by SBI Group and Augment. Notably, the RFV deal was structured through an SPV that is managed by Anthemis Group, a major early-stage investor in Tide and one of the most active fintech investors.
Jeroen van Doornik, Partner at RFV, said:
This investment in Tide will generate valuable insights regarding innovation and development in SME banking and further allows us to work together with Anthemis and alongside existing investors such as LocalGlobe.
The funding will help Tide substantially increase its share of the UK business banking market, as well as to support the company’s planned international expansion.