UK-based business financial platform Tide will invest around £250 million, or approximately ₹3,100 crore, in India by the end of 2030 while winding down its member-facing business in the country, a decision that will affect around 400 employees.
The company said the investment will support its operations and technology centres in India, which serve its businesses in the United Kingdom and Europe. Tide also plans to increase its investment to as much as £500 million over the longer term.
India will remain an important part of Tide’s global operations, the company said in a statement. Its centre of excellence in Hyderabad employs around 800 people across member support, product and engineering. The centre represents nearly one-third of Tide’s total workforce and supports its core operations, engineering and product innovation.
Tide also intends to advance its operations centre in Delhi, which supports the company’s UK and European businesses. The planned investment will therefore be directed towards global operations and technology capabilities even as the company exits its India-focused member-facing business.
Tide said the decision followed a detailed strategic review. Although its India member-facing business had grown to more than one million members since December 2022, the company concluded that its economics did not provide a viable path to sustainable profitability. It said the UK and European markets offered greater potential for profitable growth at scale.
The restructuring will affect around 400 employees. Tide said it would support those affected during the transition, including by offering transfers to its global operations and technology centres wherever possible. The company also said it would communicate directly with its members in India about the implications of the decision.
Tide Chief Executive Officer Oliver Prill said India remained integral to the company’s global business and long-term growth plans. He said the company had built a significant operations and technology presence in the country and intended to continue expanding those capabilities, while the decision to exit the member-facing business reflected the outcome of its profitability review.
Tide expects its annualised revenue run rate to exceed $500 million in the coming months. The company said the UK remains its largest and most established market, where it is profitable and approaching one million small and medium enterprise members, equivalent to around 16 per cent of the market. It also plans to use artificial intelligence to improve operational efficiency, enhance products and provide member support.
