Tide to invest Rs 6,000 Cr in India over next 5 years; to add 800 jobs
The UK-based company will also create over 800 jobs in the next 12 months, strengthening its India employee base to 2,300.
British business management platform Tide on Friday said it will invest £500 million (Rs 6,000 crore) in India over the next five years, starting 2026, and create over 800 jobs in the next 12 months.
This investment will support the company's original market entry commitment to invest £100 million made in 2021, delivered ahead of the 5-year mark, according to a statement.
With an investment of £500 million over the next five years, starting in 2026, the company will deepen its long-term commitment to India, the statement said.
The UK-based company will also create over 800 jobs in the next 12 months, strengthening its India employee base to 2,300.
These new jobs will be across areas such as product development, software development, marketing, member support and operations.
The talent base in India will be pivotal in delivering the company's global expansion strategy, it added.
At present, the company has over 1,500 employees in India, with most based in its offices across Delhi, Hyderabad and Gurugram.
India is the largest and one of the most exciting SME markets in the world and a key pillar of the company's global growth strategy, according to Tide CEO Oliver Prill.
"The strength of India's entrepreneurial ecosystem, coupled with its world-class talent base, presents immense opportunities for Tide to empower small businesses and deepen UK-India collaboration in fintech," Prill said.
Last month, Tide picked up $120 million in funding from global alternative asset management firm TPG, which raised its valuation to $1.5 billion. With the investment, Tide said it is doubling down on India as one of its growth engines, strengthening the country’s role as a critical hub powering both domestic and international operations.
Since launching in late 2022 in India, the country has become Tide's fastest-growing market, now serving over 8,00,000 small and medium enterprises (SMEs) in just over 2.5 years. Indian SMEs represent the majority of Tide's 1.6 million global member base.
"This new investment will deepen our product investment in India and accelerate localisation of solutions to meet the unique needs of small businesses in the country," Gurjodhpal Singh, CEO of Tide in India, said.
Launched in 2017, Tide is backed by Anthemis, Apax Digital Funds, Augmentum Fintech, Creandum, Salica Investments, Latitude, LocalGlobe, SBI Group, Speedinvest and TPG, among others.