Tide to invest Rs 6,000 cr in India over next 5 yrs; to add 800 jobs

Mumbai, Oct 10 (PTI) British business management platform Tide on Friday said it will invest 500 million pounds (Rs 6,000 crore) in India over the next five years, starting 2026, and create over 800 jobs in the next 12 months.

This investment will support the company's original market entry commitment to invest 100 million pounds made in 2021, delivered ahead of the 5-year mark, according to a statement.

With an investment of 500 million pounds over the next five years, starting in 2026, the company will deepen its long-term commitment to India, the statement said.

The UK-based company will also create over 800 jobs in the next 12 months, strengthening its India employee base to 2,300.

These new jobs will be across areas such as product development, software development, marketing, member support and operations.

The talent base in India will be pivotal in delivering the company's global expansion strategy, it added.

At present, the company has over 1,500 employees in India, with most based in its offices across Delhi, Hyderabad and Gurugram.

India is the largest and one of the most exciting SME markets in the world and a key pillar of the company's global growth strategy, according to Tide CEO Oliver Prill.

"The strength of India's entrepreneurial ecosystem, coupled with its world-class talent base, presents immense opportunities for Tide to empower small businesses and deepen UK-India collaboration in fintech," Prill said.

Since launching in late 2022, India has become Tide's fastest-growing market, now serving over 8,00,000 small and medium enterprises (SMEs) in just over 2.5 years.

"This new investment will deepen our product investment in India and accelerate localisation of solutions to meet the unique needs of small businesses in the country," Gurjodhpal Singh, CEO of Tide in India, said. PTI SM ANK SHW