Tide to add 600 jobs in Hyderabad over next five years
UK-based fintech firm to invest £100m (over Rs 1,000 crore) in India by 2026 to serve SMEs
Hyderabad: Tide, the UK-based business financial platform, selected India as its first international market in 2020, with a fully-fledged launch early next year. As part of its India expansion, Tide plans to create over 1,000 jobs in the next five years, of which 60 per cent of hiring will take place in Hyderabad. As a result of this, the team size in the city’s global development centre (GDC) will go up from 200 to 800.
The company also plans to invest more than £100m (Rs 1,000 crore) in India, which will go into product and software development as well as hiring across product development, software development, marketing, risk & compliance and member support roles.
Tide already has over 200 employees in India, with most based in its Hyderabad technology centre. Tide is building a robust team in India, creating a pool of talented and experienced professionals that will help build the business, scale operations and further Tide’s goal to serve Indian SMEs by helping them save time (and money) in the running of their businesses.
Gurjodhpal Singh, CEO, Tide (India), said, “We, at Tide, are committed to serve India with our innovative business banking solutions and support the country’s post-pandemic economic recovery. Through this, Tide looks to contribute to both the countries’ vision in developing a roadmap to a free trade agreement with a target of 100 billion pounds by 2030.”
In addition to business accounts and related banking services, Tide will offer a comprehensive set of administrative solutions. Not only support the organised SME sector, the company also will focus on serving the unregistered and unorganised sector, helping small businesses digitise and bring them into the mainstream.
Tide recently announced its collaboration with its first banking partner, RBL Bank, as part of which the bank will provide the bank account infrastructure for Tide’s India platform where SMEs will have an option to open current and savings accounts.
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