Tide's Global Expansion: India Takes the Lead

In a significant milestone for the fintech industry, India has overtaken the UK to become the largest market by customer count for Tide, a leading SME-focused fintech platform. Oliver Prill, Tide's global CEO, shared this achievement during an interview, highlighting India's rapid growth since its entry in 2022.

The Numbers Behind the Growth

With close to 7 lakh customers, India's market size now surpasses that of the UK, where Tide originated in 2017. The company has seen its market share in the UK grow from 4-5% in its early years to an impressive 12% today.

India's SME Sector: A Fertile Ground for Fintech

The significance of this achievement is underscored by the vast potential of India's SME sector, with 63.4 million MSMEs registered on the Udyam portal. Prill estimates the actual number could be as high as 130-140 million, given the country's entrepreneurial spirit.

Innovation Driven by India's Market Needs

Tide India CEO Gurjodhpal Singh revealed the company's ambitious goal to cross 10 lakh members by the end of the year. India's complex SME ecosystem has also become a source of global product innovation, such as the "structured partners" solution, now being introduced in other markets.

Looking Ahead: India as a Global Product Strategy Driver

Oliver Prill emphasized India's role not just as a growth market but as a driver of product strategy, with features developed for India finding relevance worldwide. This marks a shift from the UK-first approach to an India-first innovation model.