Tide to Wind Down India Member Business, About 400 Staff Affected

Tide India's member-facing business is being wound down. UK fintech Tide said on November 11, 2026 that a strategic review found the economics of its member-facing business in India did not offer a viable path to sustainable profitability, and that it will now focus its investment on the UK and Europe.

The decision affects about 400 employees in India, the company said. Tide said it will support the affected staff and its members through the transition and will contact its Indian members directly about what the decision means for them. It will keep its operations and technology centre in India, which employs around 800 people.

Tide's India wind-down at a glance

How Tide grew to over 1 million members in India before the review

Tide is a business management platform for small businesses that launched in the UK in 2017. It started serving members in India in December 2022, and the company said it has since signed up more than 1 million members in the country.

The company said that despite this member growth, the strategic review concluded the India member-facing proposition could not reach sustainable profitability. Tide said the UK remains its largest market, where it is profitable and has nearly 1 million SME members, or about 16% of the market.

Oliver Prill on leaving India's member market

Tide chief executive Oliver Prill said in the company's statement:

"Following a detailed strategic review, we have therefore made the difficult decision to exit our member-facing operations in India and concentrate our investment on the significant growth opportunities we see in the UK and Europe."

"Our immediate priority in India is to support the colleagues and members affected by this decision, and we are deeply grateful to everyone who has contributed to what Tide has built there."

What Tide says its Indian centre will keep doing

Tide said its operations and technology centre in India, with around 800 people, works across functions such as member support and product and engineering for its UK and European businesses. The company said India will remain central to its global operations and technology work.

Tide also said it expects its annualised revenue run rate to pass $500 million in the coming months, and that it will use AI to make the business more efficient and support its members.

Where Tide stands after the India decision

Tide built a base of more than 1 million members in India after launching there in December 2022, before deciding to wind down that business, a move that affects about 400 employees. Its India team of around 800 people stays in place to support the UK and Europe, where the company said it will now put its investment.

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