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Talk:Tide (financial service)

Latest comment: 3 years ago by Bbarmadillo in topic January 2020 edits
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September 26, 2019 edits

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Latest comment: 5 years ago1 comment1 person in discussion

Recent edits made to Tide page follow WP:COI guidelines that allows to “make unambiguously uncontroversial edits” such as the case of changing “banking” to “financial service” as requested by the Financial Conduct Authority, that asked Tide not to use the term “banking” anywhere as it only holds an e-money license and not a full banking license. --Bbarmadillo (talk) 19:20, 26 September 2019 (UTC)Reply

September 2020 edits

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Latest comment: 4 years ago1 comment1 person in discussion

Please make the following edits to the text. Some of the edits are purely technical, to preserve the existing references using “ref name” parameter. --Bbarmadillo (talk) 16:48, 14 September 2020 (UTC)Reply

LIST OF PROPOSED CHANGES
Current text Replace with
key_people = Oliver Prill (CEO),[1] Eileen Burbidge (Chairman)[2][3] key_people = George Bevis (founder), Oliver Prill (CEO),[4] Sir Donald Brydon (Chairman)[5]
Tide was founded by George Bevis, who previously worked as a banker.[3] Tide was founded by George Bevis, who previously worked as a banker.[3]
Established in 2015, Tide is one of the first digital-only finance platforms in the UK to provide current accounts for businesses. Established in 2015, Tide is one of the first digital-only finance platforms in the UK to provide current accounts for businesses. As of 2020, it had offices in London (headquarters), Sofia (Bulgaria) and Hyderabad (India).[6]
num_employees = 80[7] num_employees = 250[6]
num_employees_year = 2018 num_employees_year = 2020
In July 2016, the company received $2 million (£1.5 million) in seed funding from Eileen Burbidge’s Passion Capital, Robin Klein’s LocalGlobe, Zoopla’s founder Alex Chesterman, Wonga founder Errol Damelin and a number of other investors.[3][8][2] In July 2016, the company received $2 million (£1.5 million) in seed funding from Eileen Burbidge’s Passion Capital, Robin Klein’s LocalGlobe, Zoopla’s founder Alex Chesterman, Wonga founder Errol Damelin and a number of other investors.[3][8][2]
In August 2018, Oliver Prill, former chief operating officer at German online lender Kreditech, joined Tide as CEO.[7] In August 2018, Oliver Prill, former chief operating officer at German online lender Kreditech, joined Tide as CEO.[7]
In March 2019, the company announced plans to raise £60 million from investors.[9] In March 2019, the company announced plans to raise £60 million from investors.[10] In October the same year, the company raised £44.1m in Series B fundraising, with the SBI Group and Augmentum Fintech leading the funding round.[11]This fundraising followed the appointment of Guy Duncan as CTO in September 2019.[12]
In September 2020, Tide appointed Sir Donald Brydon as its first independent Chair.[5]

References

  1. ^ Megaw, Nicholas (2019-02-22). "Metro Bank wins biggest share of RBS fund to boost competition". Financial Times. Retrieved 2019-03-16.(subscription required)
  2. ^ a b c Burn-Callander, Rebecca (2016-07-30). "Wonga and Zoopla founders back mobile bank start-up". The Daily Telegraph. Archived from the original on 2017-09-14. Retrieved 2019-03-16.(subscription required)
  3. ^ a b c d e Williams-Grut, Oscar (2016-07-25). "There's a new digital-only bank and its CEO says Brexit is the 'perfect scenario' to launch". Business Insider. Archived from the original on 2017-02-02. Retrieved 2019-03-16.
  4. ^ Megaw, Nicholas (2019-02-22). "Metro Bank wins biggest share of RBS fund to boost competition". Financial Times. Retrieved 2019-03-16.(subscription required)
  5. ^ a b Vincent, Matthew (2020-09-13). "A new City cause for Gina Miller". Financial Times. Retrieved 2020-09-13. Having spent 20 years at Barclays, chaired the London Stock Exchange and reimagined the audit profession, you'd think Sir Donald Brydon might want to slow down. Instead, this week, he became chairman of fast-growing business banking platform, Tide.(subscription required)
  6. ^ a b Ballard, Oli (2020-09-09). "Who are the UK's top 32 fintech leaders?". businessleader.co.uk. Archived from the original on 2020-09-13. Retrieved 2020-09-13.
  7. ^ a b c Field, Matthew (2018-12-10). "Start-up business bank Tide doubles accounts as it eyes new funding". The Daily Telegraph. Archived from the original on 2018-12-15. Retrieved 2019-03-16.
  8. ^ a b Butcher, Mike (2016-07-25). "Super-fast small biz mobile banking service Tide raises $2M seed round". TechCrunch. Archived from the original on 2019-03-16. Retrieved 2019-03-16.
  9. ^ Griffiths, Katherine (2019-03-11). "Tide turns to investors once again". The Times. Archived from the original on 2019-03-22. Retrieved 2019-03-22.(subscription required)
  10. ^ Griffiths, Katherine (2019-03-11). "Tide turns to investors once again". The Times. Archived from the original on 2019-03-22. Retrieved 2019-03-22.(subscription required)
  11. ^ Boscia, Stefan (2019-10-07). "Tide secures £44.1m in 'one of the largest ever' fintech series B funding rounds". City A.M. Archived from the original on 2019-10-08. Retrieved 2020-09-13.
  12. ^ Smith, Oliver (2019-10-15). "Tide hires BMW's Guy Duncan as new chief technology officer". altfi.com. Archived from the original on 2020-05-21. Retrieved 2020-09-13.

January 2020 edits

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Latest comment: 3 years ago2 comments2 people in discussion

1) Please remove the following phrase from the lead section, “In the summer of 2020 Tide started having problems accessing finance to provide new bounce back loans (BBLs) to businesses affected by the COVID-19 pandemic” per the following requirements of WP:MOSLEAD:

  • "Apart from basic facts, significant information should not appear in the lead if it is not covered in the remainder of the article".
  • "Do not violate WP:Neutral point of view by giving undue attention to less important controversies in the lead section".
  • "Apart from basic facts, significant information should not appear in the lead if it is not covered in the remainder of the article".
  • "As a general rule of thumb, a lead section should contain no more than four well-composed paragraphs and be carefully sourced as appropriate".

2) Please rewrite the section (Bounce Back Loans - BBLS) to maintain WP:NPOV. The way the information is presented right now, implies that Tide didn’t help small businesses at all. It is simply not right.

LIST OF PROPOSED CHANGES
Current text Replace with
In the summer of 2020 Tide started having problems accessing finance to provide new bounce back loans (BBLs) to businesses affected by the COVID-19 pandemic.
During the 2020 COVID-19 pandemic a great many firms required funding to cope with the financial consequences of the pandemic and lockdowns enforced by it. Tide was among essential providers of finance. As a non-bank lender it does not hold deposits but relies on money raised from investors. Tide ran out of money in the summer of 2020, and did not have funding to provide further loans. It does not qualify for the Bank of England's term funding scheme aimed at small business lending, which enables banks to borrow cash to fund bounce back loans (BBLs) at a flat interest rate of 2.5%. The company "continued to ask" the government for access to Bank of England loans to fund further BBLs. The lack of available finance affected the 250,000 small and medium-sized businesses which were unable to use the BBL scheme earlier as they did not bank with any of the 28 accredited lenders.[1] During the 2020 COVID-19 pandemic a great many firms required funding to cope with the financial consequences of the pandemic and lockdowns enforced by it. Tide was among essential providers of finance. As a non-bank lender it does not hold deposits but relies on money raised from investors. Tide lent over £50m to just under 2,000 small businesses under the BBL scheme, but was forced to close applications in July after running out of funds.[2][3]

Tide does not qualify for the Bank of England's term funding scheme aimed at small business lending, which enables banks to borrow cash to fund bounce back loans (BBLs) at a flat interest rate of 2.5%. The company "continued to ask" the government for access to Bank of England loans to fund further BBLs. The lack of available finance affected the 250,000 small and medium-sized businesses which were unable to use the BBL scheme earlier as they did not bank with any of the 28 accredited lenders.[2]

Also in November 2020, the platform launched The Tide Charity in partnership with the Federation of Small Businesses and Daily Mail and General Trust, pledging £100,000 to support small businesses.[4] By the end of November, the charity, supported by Tide’s founders and Baroness Brady among others, raised over £200,000 with Amazon as a donor.[5]

References

  1. ^ Makortoff, Kalyeena (8 November 2020). "Firms fear losing access to top-up loans after lender Tide runs dry". The Guardian.
  2. ^ a b Makortoff, Kalyeena (2020-11-08). "Firms fear losing access to top-up loans after lender Tide runs dry". The Guardian. Archived from the original on 2020-11-08. Retrieved 2021-01-04.
  3. ^ Menin, Anna (2020-11-09). "Confusion reigns ahead of introduction of Bounce Back Loan top-ups". City A.M. Archived from the original on 2020-11-29. Retrieved 2021-01-04.
  4. ^ Dilworth, Miles (2020-11-10). "How you can save the beating heart of Britain: As new shutdown bites, we help launch charity giving grants to small businesses". This Is Money. Archived from the original on 2020-11-26. Retrieved 2021-01-04.
  5. ^ Dilworth, Miles (2020-11-27). "Amazon backs Tide Charity providing £1,000 grants to Britain's Covid-hit small businesses". This Is Money. Archived from the original on 2020-12-08. Retrieved 2021-01-04.
  Done Changed citation 38, as The Guardian is flagged as deprecated source. Replaced it with another third-party source. Ferkijel (talk) 08:59, 29 March 2021 (UTC)Reply
Ferkijel thank you. --Bbarmadillo (talk) 19:51, 29 March 2021 (UTC)Reply
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