Tide, the business banking platform, has hired advisers to orchestrate a new share sale as it continues rapid growth in the UK and overseas.
Sky News understands Tide has held discussions with investment banks including Morgan Stanley about launching a major fundraiser worth more than £50m in the coming months.
The stock sale could include both the issuance of new shares and the opportunity for existing investors to participate by offloading a portion of their holdings, according to insiders.
It was unclear at what valuation any new funding would be raised.
Tide was founded in 2015 by George Bevis and Errol Damelin, before launching two years later.
It describes itself as the UK’s leading business finance platform, offering business accounts and associated banking services.
The company also offers its 650,000 SME “members” in the United Kingdom a range of connected administrative solutions, from invoicing to accounting.
It now has a market share of around 11% in Britain, as well as 400,000 SMEs in India.
Tide, which employs around 2,000 people, also launched in Germany last May.
The company’s investors include Apax Partners, Augmentum Fintech and LocalGlobe.
Chaired by city grandee Sir Donald Brydon.
Tide declined to comment Friday.