Tide rolls Funding Options into ‘Tide Partner Credit Services’ as acquisition completes
FCA gives Tide the green light to complete its takeover.
Financial details of the deal haven’t been disclosed, but prior to its acquisition Funding Options had raised around £20m in equity funding as well as £5m in cash from Banking Competition Remedies (BCR) in 2019.
“As part of Tide, our ability to do what we do best—help businesses gain access to finance—is going to be turbo-charged, not only in the UK but also as we move into new markets,” said Cureton, seemingly hinting at Tide’s recent launch in India.
“We’ll be at the forefront of the sector, driving innovation in technology, new products, new services and new features that will make a huge difference to our customers.”
Once the integration is complete, Tide’s 475,000 SME customers will have instant access to Funding Options’ panel of lender partners.