Digital business banking platform company Tide has raised £44.1 million ($54.3 million) in a Series B funding round. The investment was led by SBI Group and Augmentum Fintech.

In August 2019, Tide surpassed 100,000 members and increased its market share to 1.75%, according to the company. The month after, Tide launched Tide Capital, a subsidiary company allowing Tide to offer its own credit products to members.

[Image courtesy: Tide]