Tide partners Adyen introduces business accounts in Germany expansion

02 May, 2024

Tide partners Adyen introduces business accounts in Germany expansion

Tide, the UK’s premier business financial platform, has joined forces with Adyen, a global leader in financial technology, to introduce Tide business accounts to small and medium-sized enterprises (SMEs) in Germany, marking its initial foray into the European market. This collaboration is poised to offer cost-effective and streamlined business accounts tailored to the needs of small businesses without dedicated finance departments. Additionally, Tide plans to roll out comprehensive financial and administrative solutions, including invoicing and accounting, later in 2024. For Adyen, this marks the debut of its banking-as-a-service solution in Germany.

Oliver Prill, CEO of Tide, expressed enthusiasm about the expansion into Europe, emphasizing Germany as the first destination. He underscored Tide's commitment to becoming the premier international financial platform for small businesses. Leveraging Adyen's expertise, Tide aims to provide top-notch banking-as-a-service solutions to German small business owners and beyond.

One notable enhancement to Tide's Business Accounts product is the inclusion of local IBANs through the collaboration with Adyen. This integration ensures seamless inbound and outbound payments for Tide members in Germany, empowering them with local account references for efficient money management. This localization reflects Tide's dedication to delivering exceptional payment experiences tailored to small business requirements.

With over 800,000 small business members across India and the UK, Tide holds a significant market share and has expanded its reach globally since its launch in India in December 2022. As Tide continues to grow, its partnership with Adyen underscores its commitment to innovation and customer-centric solutions in the financial technology landscape.