Tide is AUGM’s largest investee (15.2% of NAV). Over the last few years, its valuation has risen by c28%pa. Tide is a digital finance platform (App) for the SME market. Tides ethos is to save customers time and money via the provision of a seamlessly integrated business services platform One App to Rule Them All. SCM’s view is that Tide has the product-market-fit (c11% in the UK SME market) and business momentum (75%+ sales growth) to be a core driver of AUGM’s NAV. Trading on a 37.5% discount, ....
