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Celebrating one year of growth: Funding Options by Tide

April 8, 2024

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
You can find the original post here:
https://www.tide.co/blog/tide-update/one-year-of-growth-funding-options-by-tide/

It’s been an exciting journey for Funding Options since joining the Tide family one year ago. This milestone marks not just a year of collaboration but a year of growth, innovation, and empowerment for small businesses across the UK.

Since 2013, Funding Options has helped over 15,000 UK customers access over £750 million in funding via 120+ lending partners. Now, as Funding Options by Tide, our mission remains unchanged: to support small businesses with quick and easy access to funding.

Revolutionising business finance together

Our partnership with Tide has turbo-charged our strategy and execution, speeding up our growth and success.

Funding Options has now been seamlessly integrated with the Tide mobile app and can be found via the Finance Tab. The integration enhances convenience and streamlines access to business financing.

Over the past year, our partnership with the Partner Credit Service team within Tide has flourished, fuelling our mission to support small businesses at every stage of their growth.

By streamlining processes and boosting efficiency we’ve revolutionised the way small businesses access finance.

From a single application, we make real-time lending decisions in seconds, delivering loans as large as £2.45 million.

The team is also on hand to work closely with each business owner to help them find the best funding solution tailored to their business and specific needs.

In our latest Member Spotlight, we introduce you to Aaron Mo, the visionary founder behind Ong Ong Buns, an Asian bakery on the rise.

Fuelled by their entrepreneurial spirit and a taste for success, Aaron and his team were looking to expand. With the support of Funding Options by Tide, they were able to unlock the means to grow sustainably while staying true to their roots.

You can learn more about their business and experience getting funding here.

Another exciting milestone for Funding Options has been the establishment of our teams in Bulgaria and India – a first step towards international growth. Following this expansion, we’re looking to offer business finance to SMEs in Germany too.

A bright future ahead

Looking ahead, we’re more committed than ever to supporting small businesses on their journey to success. With Tide’s backing, we have the resources, expertise, and determination to continue driving positive change in the lending landscape.

Our product team is focused on improving the overall user experience by simplifying and shortening the application journey and reducing any friction.

We will continue to grow our partnerships with new and current lenders and improve our offering to advisors.

Simon Cureton, SVP Partner Credit Services said:

“The Funding Options team is thriving as part of a new larger family. The strategic and cultural fit between Tide and Funding Options is exceptionally strong, allowing the broader teams to concentrate on what matters most, delivering amazing products for Tide members and for business owners all over the UK. Our growth plans are ambitious and I can’t wait to see how much we will achieve in 2024.”

As we celebrate the one-year landmark, we want to say a massive thank you to our members, partners, and our team. They’ve each played a crucial role in our success.

Together, we’ve achieved remarkable milestones, but our journey is far from over. With passion, innovation, and dedication, we’ll continue empowering small businesses and shaping the future of business finance.

Here’s to many more years of growth and making an impact!

Why leave it there?

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