Tide committed to serving 63-million and growing Indian SME sector to unleash their true potential

Posted on By dsprime 64 Comments on Tide committed to serving 63-million and growing Indian SME sector to unleash their true potential

Hyderabad (Telangana) [India], August 18: Tide, the UK’s leading business financial platform, having gained significant traction in the UK (over 6%  market share) and developed the right approach and mix of services to meet the diverse and changing needs of small businesses, announced in early 2021 that it had selected India as its first international market. India has a large pool of highly educated and talented people. Businesses from outside of India have access to a high calibre of people to adapt and grow the business to suit the market’s needs.

Following a comprehensive research process conducted by Tide when assessing new markets, India emerged as a clear front-runner for numerous reasons. The sheer size of the market made India very attractive; with over 60 million SMEs, it is a market in which Tide can achieve a significant scale. However, many other factors made India a clear winner besides its size.

Firstly, the government’s digitisation efforts and high smartphone penetration were key factors. This push towards digitisation has led to large scale digital adoption among consumers as well as SMEs; these digitally-savvy SMEs are vital to the Indian economy but are underserved by the banks, creating exciting opportunities for Fintechs. In addition, the recent and continuing government efforts to formalise and digitise the economy have opened up a need for a new and exciting business banking offering.

The existing Fintech ecosystem also makes India extremely attractive; with numerous innovative and advanced players to collaborate with and learn from, there are opportunities for Tide to offer a comprehensive, smart platform. And finally, the fact that entrepreneurialism is central to India’s culture is very exciting for Tide. We are passionate about entrepreneurs, so this aspect of the Indian culture is aligned with Tide’s values.

India has around 64 million SMEs, 10% of the total number of SMEs in the world, thus making it the largest accessible SME market globally.  As the country emerges from the pandemic, SMEs are going to be crucial to the economic recovery, and they will need all the support they can get in order to get back on their feet. Tide will be there to help SMEs to streamline their financial admin and focus on building and growing their businesses. Apart from supporting the organised SME sector in India, Tide will also focus on serving the unregistered and unorganised sector, helping bring these SMEs into the mainstream and unleash their true potential.

Tide is committed to serving the 63-million and growing Indian SME sector and will help unleash the true potential of Indian small businesses.  When fully launched, Tide will offer a full range of payments services, including UPI, but will also offer tools to help business owners save time on admin tasks such as expenses and invoicing, as well as offering SME credit. Being digital-only, Fintechs, like Tide, can serve SMEs with tailor-made products and solutions that help create a digitised credit history for them, which further helps them get seamless access to credit. Digitisation brings higher transparency and efficiency in the ways of conducting business, empowering the SME segment.

Tide plans to invest more than £100 million (Rs. 1000 crore) in India in the next five years. The funding Tide raised in its recent Series C round will be used to grow both the Indian and UK businesses, with Tide also reinvesting revenue into the Indian market. The new funding will support further investments in products and help the operations in Indian expansion.

 

Press Release Tags:

Related Posts

Comments (64) on “Tide committed to serving 63-million and growing Indian SME sector to unleash their true potential”

  2. He played the villain in the movie that famously stated.
    Washington’s message was that it’s wiser to be upfront and deal with the consequences.
    That’s not what you expected, was it.
    They’re easy to remember and pass down through generations because they’re concise.
    So my advice.
    Today, I’ll define aphorism and show you how these handy little sayings make your writing more memorable.
    Take this proverb, for example.
    It originally read, Count not they chickens that unhatched be…
    The part in Star Wars where Yoda says, There is do, or do not.
    Aphorism Examples in Everyday Speech
    Finally, Actions speak louder than words is another classic example.
    (I say these words to make me glad),
    Ready to Use These Aphorism Examples In Your Writing.
    Are you in.
    And since they’re universal truths about life, they help persuade your reader to accept your message.
    You get up and keep trying.

  3. Check it out.
    Have you ever felt frustrated when other people didn’t meet your expectations.
    One of his most notable is, An ounce of prevention is worth a pound of cure.
    Why is this stuff important.
    Then use it as a guideline to stay focused on your general theme.
    Now here’s the big question.
    The early bird gets the worm.
    Nanakorobi yaoki.
    But Yoda isn’t having it.
    Washington also said, It is better to offer no excuse than a bad one.
    Sometimes, though.
    This quote came from Wales, first appearing in an 1866 publication.
    It’s time.
    Practice what you preach.
    Guy standing at a bookshelf
    It’s better safe than sorry, right.

  4. If you do, you agree with George Herbert’s famous aphorism from his book, Outlandish Proverbs.
    So what do you do.
    Opportunities don’t happen.
    Let me ask you.
    Oftentimes, it makes sense to delegate tasks.
    They’re easy to remember and pass down through generations because they’re concise.
    And then.
    They’re inspirational quotes.
    The early bird gets the worm.
    Another success aphorism comes from Chris Grosser.
    See for yourself.
    Picture of Benjamin Franklin and a caption that says “Aphorist Extraordinaire”
    Interestingly enough, this saying was initially intended as a compliment.
    Skilled writers use aphorisms to evoke big ideas in a relatable way.
    From there, you can build your story around it.
    Aphorisms are so common that we hardly think twice about them.

  5. Generally I don’t read article on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing style has been amazed me. Thanks, quite nice article.

  6. Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.

  7. Howdy! Would you mind if I share your blog with my facebook group? There’s a lot of folks that I think would really appreciate your content. Please let me know. Thank you

  11. hello there and thanks in your info – I have definitely picked up anything new from right here. I did alternatively expertise some technical points using this website, as I experienced to reload the website lots of times previous to I may get it to load correctly. I had been wondering if your web host is OK? Not that I’m complaining, but slow loading instances times will often have an effect on your placement in google and can damage your quality score if ads and ***********|advertising|advertising|advertising and *********** with Adwords. Well I’m adding this RSS to my email and can glance out for much extra of your respective interesting content. Make sure you update this again soon..

  24. [url=http://amoxicillin.men/]buy amoxil online uk[/url] [url=http://finasteride.pics/]finasteride how to get[/url] [url=http://zovirax.lol/]acyclovir 500 mg tablet[/url] [url=http://cymbaltatab.online/]cymbalta prescription cost[/url]

  33. [url=http://sildalistabs.monster/]sildalis cheap[/url] [url=http://canadianpharmacy.solutions/]online pharmacy pain medicine[/url] [url=http://lasix.foundation/]lasix online[/url] [url=http://buspartabs.com/]90 mg buspar[/url]

Leave a Reply

Your email address will not be published.