Digital business banking platform Tide has secured a £100m securitisation debt facility from investment manager Fasanara Capital, which the platform said will support its provision of credit to customers.

Tide said that the facility will help the platform in offering short-term cash flow management support to its small and medium-sized business clients. 

Tide services 650,000 SMEs in the UK, according to the platform, accounting for more than a tenth of the UK market. It also supports 650,000 SMEs in India, and launched in Germany in May 2024.

“We know flexible, short-term working capital is critical to the success of small businesses where managing cash flow is a constant challenge,” said Tide chief executive officer Oliver Prill. 

“With the new Fasanara facility, we are able to extend the Credit Flex mechanism in a way that we believe will benefit more of our members, improving the efficiency and responsiveness of our service provision.”