5 lakh Indian MSMEs now use Tide for their businesses, Tide targets 1 million MSMEs in the country by Dec 2025
~ The platform saw a 185% increase in adoption by women entrepreneurs over the last ten months (February to December 2024) ~
- Over 90% of members (MSME owners) are under the age of 40; with 52% GenZ and 41% Millennials
- The top 5 states with 62% of total members: Uttar Pradesh, West Bengal, Madhya Pradesh, Maharashtra, and Bihar
- Tier 2, 3 and beyond cities driving growth. Include Bareilly, Murshidabad, Chhindwara, Kota, Jaipur, Lucknow, Bhopal
Delhi, January 7, 2025: Tide in India, the leading business financial platform for SMEs, has crossed a major milestone, with more than 5 lakh MSMEs (members) on its platform. This comes just two years after its market entry.
Tide is targeting another 5 lakh members by December 2025, bringing the total to one million MSMEs in the country. This milestone shows Tide’s commitment to helping entrepreneurs set up and do business. Alongside this growth, Tide is ensuring top-notch compliance and security with a reliable vKYC (video Know Your Customer) process for every member.
Tide is a favourite among young entrepreneurs, with over 90% of its members under 40. Gen Z makes up 52%, while millennials account for 41%. This reflects the rising entrepreneurial energy among India’s youth who are embracing digital tools to run their businesses. Tide is rapidly growing across India, with 62% of its members based in states like Uttar Pradesh, West Bengal, Madhya Pradesh, Maharashtra, and Bihar. Around 65% of Tide’s members include mom and pop stores, freelancers, and solopreneurs, such as consultants, grocery store owners, repair shop operators, and food & beverage vendors.
Tide is growing rapidly in India, thanks to strong adoption in Tier 2 and Tier 3 cities like Bareilly, Murshidabad, Chhindwara, Kota, Jaipur, Lucknow, Bhopal, North 24 Paraganas and Firozabad. Mumbai is the only Tier 1 city in Tide’s top 10 list. This highlights Tide’s commitment to supporting entrepreneurs in smaller cities, where there’s a large underserved community with a rising demand for digital financial solutions.
Gurjodhpal Singh, CEO, Tide in India, said: “We’re delighted to have over 500,000 small businesses in India join Tide, a clear sign of the trust Indian entrepreneurs place in us. Our ambition is to understand the unique challenges faced by small business owners and provide them with smart, tech-driven financial solutions. Whether it’s simplifying payments or helping manage expenses more efficiently, we’re here to support entrepreneurs at every step. As we grow, we’re committed to helping even more businesses across India succeed with ease and confidence.”
Gurjodh added: “Our goal is to welcome another 500,000 small businesses to Tide by December 2025. To make this happen, we’re expanding our range of financial tools using advanced technology to tackle the latest business challenges. We’re focusing on smarter AI-powered financial insights, stronger connections with India’s growing digital payment systems, and new features to make managing finances and admin even easier. Our aim is to provide seamless, user-friendly experiences that help entrepreneurs stay in control and focused on growing their businesses.”
Tide’s member base currently includes 87% men and 13% women, highlighting a significant opportunity to support more women entrepreneurs.
Tide is making progress in this direction with initiatives like TWIBE, a peer community group, and partnerships with organisations such as WE Hub, NEHHDC, and the Ubuntu Consortium. These efforts have made a real impact over the last ten months. In February 2024, Tide had 23,000 women members—this number has now grown to over 65,400 by December 2024, an incredible increase of 185%.
This growth shows Tide’s dedication to empowering women-led businesses and fostering a more inclusive entrepreneurial community. Even small steps can lead to meaningful change.
Tide is on a mission to grow its community to 1 million small businesses by 2025, with a focus on reaching underserved areas, especially in Tier 2 and Tier 3 cities. We’re dedicated to empowering small businesses across India and becoming the go-to solution for MSMEs, helping them thrive with innovative tools and support.
Exciting new features are on the way, including savings and investments, tailored insurance plans, easy access to formal credit, simplified Udyam registration, hassle-free GST filing, tools for assessing eligibility for government loan schemes, and advanced payment acceptance solutions. Tide is here to make managing business smoother and more successful.
Tide in India has crossed more than 10 lakh app downloads on Google Play Store, since its launch.
About Tide
UK. Tide helps SMEs save time (and money) in the running of their businesses by not only offering business accounts and related banking services, but also a comprehensive set of highly usable and connected administrative solutions from invoicing to accounting. Tide has 650,000 SME members in the UK (11% market share) and 500,000 members in India. Tide launched in Germany in May 2024. Tide has also been recognised with the Great Place to Work certification two consecutive years in a row (2023-24 and 2024-25).
Tide employs more than 2,000 Tideans worldwide. Tide’s long-term ambition is to be the leading business financial platform globally.
LinkedIn: https://www.linkedin.com/company/tide-banking/
Twitter: https://twitter.com/TideBusinessIND
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