UK-based Neobank ‘Tide’ forays into India with INR 1000 Cr investment plans
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UK-based small and medium enterprise (SME) focused neobank Tide plans to invest more than £100 Mn (INR1000 Cr) in India as part of its launch strategy. The platform had announced India as its first international market in 2020 and it will launch its India services early next year. Tide announced today that it will create over 1,000 jobs in the next five years. In India, prominent neobanks have raised more than $500 Mn since 2019.