TPG has led a $120m funding round for Tide Holdings, the UK-based business banking and management platform, valuing the company at $1.5bn. Existing investor Apax Digital Funds also participated in the round.

The raise combined fresh equity with a secondary share sale, giving early investors and employees the chance to cash out while enabling Tide to remain private.

Founded in 2015, Tide provides banking and business services to 1.6m SMEs across the UK, India, and Germany, and launched operations in France this month.

Oliver Prill, CEO of Tide, said: “Securing this investment from TPG is a major milestone for Tide and a strong endorsement of our growth as the leading global business management platform serving 1.6m members worldwide.”

The funding will be used to scale Tide’s push into continental Europe, develop new products, and expand its use of AI. The company’s UK operations are already profitable, enabling it to self-fund parts of its growth.

Prill did not rule out a London IPO in the future but highlighted the need for stronger domestic investor support to make the UK more competitive against US markets.

Morgan Stanley acted as financial adviser on the transaction. In May, Tide secured a £100m debt facility from Fasanara Capital to back its buy now, pay later product for SMEs.

The deal underscores the continued appetite of private equity investors for fintech platforms that combine profitability with international growth potential.

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