UK business financial platform Tide is expanding its operations to Germany, marking its second international market after a successful venture in India.
Founded in 2015 and launched in 2017 in the UK, Tide offers financial solutions to small businesses, and plans to extend similar services to German SMEs, aiming to address their administrative and financial management challenges.
With Germany being Europe’s largest economy and a significant hub for SMEs, Tide sees substantial growth potential in the country’s financial sector. The move into Germany follows Tide’s launch in India in 2022, where it now has more than 200,000 SMEs, and also reflects its ambition to become a leading international financial platform for small businesses.
Tide employs 1,600 people globally and has offices in India as well as Bulgaria in addition to its headquarters in London. Tide has employees based in Germany, with plans to expand its presence around the country.
In Germany, potential members can join a waiting list with the Tide app becoming available in the coming months. Initially, members can access Tide’s Business Account and card products, while it rolls out its full platform capabilities, which solutions including invoicing and cash flow forecasting.
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.”
