Tide, the UK’s leading business financial platform, has secured a £100 million securitization debt facility from Fasanara Capital Ltd (“Fasanara”), a London-based investment manager with over $4.5 billion in assets under management (as of December 2024). This funding will enable Tide to ramp up the offering of its short-term cash flow management solution for its SME customers (members) across the UK.
Founded in 2015 with the goal of providing financial services to small businesses, Tide launched its product in 2017 and has since grown into one of the most comprehensive financial platforms for SMEs in its active markets – the UK, India and Germany. Tide’s extensive offering includes bank accounts, financial and administrative tools, payment services, expense and credit management services. This broad range of services has enabled Tide to build a significant UK presence, now serving 650,000 SMEs – more than 10% of the UK market. Building on its success in the UK, Tide launched the Tide app in India in December 2022, where it has rapidly reached more than 650,000 members, and in Germany in September 2024.
Oliver Prill, Tide CEO, said: “As one of the UK’s leading SME lending intermediaries, we work with more than 120 lenders to enable strategic funding solutions. Additionally, we provide a mechanism (“Tide Credit Flex”) which seeks to make it easier for small businesses to spread the cost of bank transfers into smaller monthly payments to avoid a balance dip. We know flexible, short-term working capital is critical to the success of small businesses where managing cash flow is a constant challenge. With the new Fasanara facility, we are able to extend the Credit Flex mechanism in a way that we believe will benefit more of our members, improving the efficiency and responsiveness of our service provision.”
Francesco Filia, Founder and CEO of Fasanara, added: “Fasanara is focused on the next generation of SME lending solutions. Our partnership with Tide represents a perfect alignment of vision – leveraging fintech innovation to provide efficient, tailored credit solutions at scale. We are proud that Fasanara, a global leader in fintech private credit, is partnering with Tide, a market leader in SME financial services, to enable hundreds of thousands of UK SMEs to gain access to the working capital they need to continue to grow and thrive.”
Fasanara, a London-based alternative credit specialist, has funded over $85 billion to fintech lenders in more than 60 countries over the last 14 years, positioning itself as one of the most active fintech debt funding providers globally. The £100 million debt facility provided to Tide is envisaged to enable the company to provide more than £300 million in working capital loans to potentially hundreds of thousands of UK SME borrowers.
Read the orginal article: https://ffnews.com/newsarticle/funding/tide-secures-100-million-debt-facility-from-fasanara-for-enhanced-credit-offerings/
