Tide, UK’s top business financial platform, launching in Germany

Tide, the United Kingdom’s premier business financial platform, has announced its launch in Germany. This expansion marks Tide’s second international venture, hot on the heels of its successful foray into the Indian market last year.

Tide has carved a niche in the UK by offering a suite of highly integrated finance and administrative solutions tailored for small businesses lacking a dedicated finance function. From business current accounts to comprehensive accounting services, Tide has become the go-to resource for over 575,000 small and medium-sized enterprises (SMEs), securing more than 10% of the market share.

As Tide prepares to navigate the German market, it has opened a waiting list for prospective members at tide.co/de. The Tide app is slated for release in the upcoming months, initially providing access to business accounts and card products. A gradual rollout will see the introduction of Tide’s full platform capabilities, including invoicing and cash flow forecasting tools.

Germany’s financial landscape is undergoing a rapid transformation. As Europe’s largest economy, it boasts nearly three million small businesses, the majority of which are micro-enterprises with fewer than ten employees. The German SME sector, employing 5.9 million individuals, is increasingly embracing digital solutions for financial management.

Historically dominated by large traditional banks, the German SME financial services sector is ripe for disruption. Tide aims to replicate its UK success by offering a simple yet innovative solution that resonates with the needs of German small businesses.

Following its successful launch in India—home to the world’s largest SME market—in December 2022, Tide has experienced exponential growth, amassing over 200,000 members. The company now boasts a global workforce of 1,600 across offices in India, Bulgaria, and its London headquarters. With employees already on the ground in Germany, Tide is poised to expand its footprint throughout the nation, heralding a new era of financial services for small businesses.

Oliver Prill, CEO of Tide, says: “As in the UK, small businesses are the backbone of the German economy, Europe’s largest. 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. Our goal is to help reduce the financial and administrative management burdens with our advanced business financial platform. Looking at what is on offer for SMEs in Germany, we believe there is a huge opportunity for Tide. 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.”

Chris Barton, His Majesty’s Trade Commissioner Europe, says: “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.

Tide is now one of the UK’s leading providers of innovative solutions for small businesses and is making an important contribution to strengthening the SME sector.’’