tide plans to launch a corporate finance platform in Germany with the aim of serving small and medium-sized businesses in Europe's largest economy.
The platform is already available in the UK and India and offers connected finance and management solutions designed for small and medium-sized businesses without treasury functions, the company announced on Tuesday (March 12). press release.
“Our goal is to ease the burden of financial and administrative management with an advanced business finance platform.” Oliver Prillsaid Tide's CEO in a release. “If you look at what’s on offer; [small- to medium-sized businesses (SMBs)] We believe there is a huge opportunity for Tide in Germany. ”
The Tide app will be launched in Germany in the coming months.Meanwhile, potential customers waiting listAccording to the release.
According to the release, Tide's platform capabilities will be rolled out in stages, starting with business accounts and card products, and extending to invoicing, cash flow forecasting and other solutions.
The company currently serves more than 575,000 SMEs in its first market, the UK, and more than 200,000 SMEs in India, where it launched in December 2022, according to the release. provides services to.
Germany, the third largest market, is Europe's largest economy, with nearly 3 million small and medium-sized businesses, and a growing trend toward using digital solutions to manage their finances, according to a press release.
“Small and medium-sized enterprises are the backbone of Germany's economy, Europe's largest, just like the UK's,” Prill said in a statement. “Our success in the UK has been built on a deep understanding of the pain points of small businesses, the self-employed and freelancers.”
Another recent development in this field is Commerzbank and global payments Partnered to provide digital payment solutions to Germany in January Small and medium-sized enterprises. The two companies have joined forces to form Commerz Globalpay GmbH, offering merchants a suite of omnichannel payments and software solutions.
European FinTech in May Molly launched Face-to-face payment Solutions in Germany, Belgium and the Netherlands. The solution, Mollie Terminal, integrates in-person and online payments, meeting the needs of merchants operating both brick-and-mortar and online stores. The device operates through a single application programming interface and works with both 4G and Wi-Fi.
