Tide to Buy UK Finance Marketplace Funding Options

Tide, the leading digital business banking platform, has announced it will acquire Funding Options, a leading UK marketplace for business finance, subject to FCA approval. 

Funding Options will continue to operate as a separate brand within Tide. Tide's existing credit intermediation business will be merged with Funding Options and will be led by Funding Options CEO, Simon Cureton.

Oliver Prill, CEO, Tide, said: "Easy access to funding is essential to support the growth of the UK's small businesses, especially in these challenging times. So we are delighted that Funding Options is joining Tide. Like Tide, they are focused on helping small businesses save time and money. Securing finance is often an issue for small businesses, but Funding Options ensures there are no confusing products, complex application forms and long waits. I am delighted Simon Cureton will be leading our combined credit intermediation business, bringing his expertise to help us achieve our ambitious growth plans, both in the UK and beyond."

Simon Cureton, CEO, Funding Options said: "Since launch, Tide has grown quickly. As we look to expand in the UK and globally, we will consider further acquisitions to accelerate our growth and add to the services and products we offer our members. We aim to be a sector leader in the fintech merger and acquisition space against the backdrop of fast-moving market dynamics globally." "Funding Options has always been a champion of UK SMEs, which is why I am delighted to be joining forces with Tide to accelerate our joint ambitions to equip more entrepreneurs and business leaders with the tools and services they need at this critical time."