UK FinTech Tide has begun its global expansion as it launched in India.
In Brief:
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Tide offers a financial operating system model for small businesses.
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It will launch its test offering in the country in Q1 this year.
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A wider roll-out is planned later in the year.
What does this mean?
Tide has made the move to India following a successful year in the UK, which has seen it process over £10bn in transactions and serve a 5% share of the UK business banking market. The SME market has been traditionally underserved up to a few years ago, and the need for better cash flow management tools has been highlighted by the global impact of Covid-19.
