Business Finance Platform Tide Targets 1 Million MSME Members By Dec 2025

New Delhi, Jan 10 (KNN) Tide, the business financial platform focusing on small and medium enterprises (SMEs), announced plans to double its member base to one million MSMEs by December 2025, leveraging new artificial intelligence-powered solutions. The announcement came from company leadership on Thursday.

The company has achieved a significant milestone by reaching 500,000 MSME members within two years of entering the Indian market. Gurjodhpal Singh, Tide's CEO in India, outlined the company's strategic vision, emphasising the development of enhanced financial tools and technology-driven solutions to address emerging business challenges.

Singh detailed plans to integrate stronger connections with India's expanding digital payment systems and implement AI-powered financial insights. 

The platform intends to broaden its service offerings to include savings and investments, customised insurance plans, streamlined credit access, Udyam registration assistance, GST filing services, and advanced payment solutions. These additions will complement existing features such as invoicing, expense cards, and bill payment services.

Notably, Tide's growth in India has been primarily driven by smaller cities, reflecting the ongoing formalisation of small businesses across the country. 

The company reported that over 90 percent of its members come from cities like Bareilly, Murshidabad, Chhindwara, Kota, Jaipur, Lucknow, Bhopal, North 24 Paraganas, and Firozabad. Mumbai stands as the only Tier 1 city among Tide's top 10 markets.

The platform's demographic data reveals a gender disparity in its user base, with 87 percent male and 13 percent female members. However, Tide has observed substantial growth in women entrepreneurship, reporting a 185 percent increase in women members from 23,000 in February 2024 to over 65,400 by December 2024. 

The company, which also operates in the UK and Germany, views this as an opportunity to expand its support for women entrepreneurs in India.

(KNN Bureau)