Tide secures $120 million from TPG, valuation jumps to $1.5 billion

UK-headquartered fintech startup Tide, which has around half of its customer base in India, has secured $120 million in a fresh funding round led by global alternative asset management company TPG, with existing investor Apax, another global private equity firm, also participating.

The round has valued Tide at around $1.5 billion, said Oliver Prill, the company’s chief executive officer.

This is a major valuation bump up for the 2017-founded startup. It had last raised a major equity funding round in 2021, from Apax, when it was valued at around…