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British fintech Tide expands into Germany

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SME financial services platform Tide is launching in Germany in the company’s second international market expansion.

London-headquartered Tide offers financial management tools and business banking accounts to SMEs.

It will now provide financial services to German businesses, with the official launch of the German app coming in the next few months.

The Germany launch follows Tide’s expansion into India in 2022.

“As in the UK, small businesses are the backbone of the German economy, Europe’s largest,” said Tide CEO Oliver Prill.

“Our success in the UK has been built on having a deep understanding of the pain points of small businesses, the self-employed and freelancers.

“Across all our markets, we continue to add to the services and products we offer to our members, as part of our mission to be the leading international financial platform for small businesses.”

According to Tide, the company currently has more than 575,000 SME customers in the UK.

Chris Barton, HM trade commissioner for Europe, said: “We are delighted that Tide is entering the German market and beginning to grow in continental Europe.

“In the UK, its first market, Tide represents a remarkable success story and has already helped hundreds of thousands of small businesses to keep their finances and administration under control in recent years.”

In October 2022 Tide acquired lending marketplace company Funding Options for an undisclosed fee.

Tide was founded in 2015 by George Bevis. In addition to the UK, it has offices in Bulgaria and India.

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