Tide's Business Banking Platform Launches in Germany All You Need

14 Mar, 2024

Tide's Business Banking Platform Launches in Germany All You Need

Tide, the UK-based business financial platform, is expanding its operations into Germany, marking its second venture outside the UK after a successful entry into the Indian market in 2022.

In the UK, Tide caters to small businesses lacking dedicated finance functions, offering integrated finance and admin solutions that streamline operations and save members valuable time and resources. With over 575,000 SMEs served, Tide commands a significant share of the market, providing services ranging from business current accounts to accounting support.

German businesses interested in joining Tide can now sign up for the waiting list via the website or Tide app, with full access expected in the coming months. Initially, members will have access to Tide's Business Account and card products, with additional platform capabilities, including invoicing and cash flow forecasting, to be gradually introduced.

Similar to its approach in the UK, where traditional banks dominate SME financial services, Tide aims to offer simple yet innovative solutions tailored to the needs of small businesses in Germany.

Tide's expansion into Germany follows its successful entry into India, where it has amassed over 200,000 members, demonstrating its ability to rapidly scale in diverse markets.

Oliver Prill, CEO of Tide, emphasizes the company's commitment to easing the financial and administrative burdens faced by small businesses, freelancers, and the self-employed. Tide aims to leverage its deep understanding of SME pain points to provide advanced business financial solutions.

Chris Barton, His Majesty’s Trade Commissioner Europe, highlights Tide's role in bolstering the SME sector, underscoring its track record of success and innovation in the UK. Tide's entry into the German market represents a significant step towards broader European expansion and continued support for small businesses across the continent.