UK-based banking fintech Tide expands operations to India

UK-based banking fintech Tide has launched operations in India, its first international foray.

The company already runs a global technology development centre in Hyderabad with over 100 engineers.

Founded in 2015 and launched in 2017, London-based Tide has also appointed Gurjodhpal Singh, a former PayU executive, to lead its India operations.


“India, with 63 million SMEs is home to one-tenth of all SMEs globally and the second largest start-up ecosystem worldwide with an entrepreneurial culture, it is also one of the hottest fintech hubs globally. The considerable commercial opportunities, and the fact that Tide’s management team has had extensive experience in the market, led us to choose India as the first port of call in our global expansion journey,” said Oliver Prill, CEO of Tide.

The fintech offers banking solutions primarily aimed at MSMEs and expects India to be a significant part of its business in future.

It will test launch in the first quarter of 2021 before rolling out operations nationally later in the year.

In addition to the development centre, it has set up its local office in Gurugram, said Prill.

Over time, the company will explore local partnerships to provide additional services to its customers, he added.