Tide Expands Availability of Credit Product to All UK Small Business Members

Business financial platform Tide now offers its credit product, Credit Flex, to all its members in the United Kingdom.

Tide expanded the availability of Credit Flex after seeing the success of a pilot launched in 2023, in which it made the credit product available to 5,000 small- to medium-sized business (SMB) members, and after receiving a 100 million pound (about $133 million) securitization debt facility from London-based investment manager Fasanara Capital, the company said in a Thursday (May 1) press release.

Credit Flex is a short-term loan facility that is integrated into the Tide app and allows eligible Tide members to immediately access up to 5,000 pounds in credit, according to the release. The loans have a four-month term and a 3.3% per month interest rate.

“We know flexible, short-term working capital is critical to the success of small businesses where managing cash flow is a constant challenge,” Tide CEO Oliver Prill said in the release. “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.”

Fasanara said in a Thursday press release that the debt facility it provided to Tide is expected to enable the business financial platform to provide over 300 million pounds in working capital loans to potentially hundreds of thousands of U.K. SMB borrowers.

“Our partnership with Tide represents a perfect alignment of vision — leveraging FinTech innovation to provide efficient, tailored credit solutions at scale,” Fasanara founder and CEO Francesco Filia said in the release.

Tide has 650,000 SMB members in the U.K., according to its Thursday press release. The company also has 650,000 SMBs in India and launched in Germany in May 2024.

When Tide announced in March 2024 that it planned to expand its business financial platform to Germany, it said a growing portion of the country’s nearly 3 million small businesses are using digital solutions to manage their finances.

“Looking at what is on offer for [SMBs] in Germany, we believe there is a huge opportunity for Tide,” Prill said at the time in a press release.

Tide offers business accounts, related banking services, and administrative services like invoicing and accounting, per the Thursday press release.

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