Tide, the UK digital business banking platform serving over 500,000 small businesses, has secured a £100 million credit facility from a consortium of institutional investors led by Barclays and Waterfall Asset Management. The funding will be deployed to expand Tide's suite of lending products, including its invoice financing and credit line offerings, which the company says have seen demand surge by 180 per cent year-on-year as traditional banks continue to retreat from SME lending.

Chief executive Oliver Prill described the facility as a transformational moment for the company. "Small businesses are the backbone of the UK economy, yet they remain chronically underserved by incumbent lenders," Prill said. "This facility allows us to meet the enormous unmet demand we see every day on our platform." Tide currently processes over £3 billion in transactions monthly and has disbursed more than £250 million in loans since launching its credit products in 2022.

The announcement comes amid a broader push by challenger banks and fintech lenders to fill the gap left by high-street banks, which have closed thousands of branches and tightened SME credit criteria in recent years. According to the British Business Bank, the UK's SME finance gap stands at approximately £22 billion, presenting a significant opportunity for digital-first platforms. Analysts at Citi noted that Tide's integrated approach — combining current accounts, invoicing tools, and credit — gives it a structural advantage in underwriting risk for micro-businesses.