Tide to launch business accounts in Germany with Adyen

By Gloria Methri

Adyen has partnered with Tide to offer business accounts to SMEs in Germany before potentially expanding it further into Europe.

Following its entry into the German market in March, Tide will soon offer cost-effective and efficient business accounts to small businesses lacking a finance function. More highly connected finance and admin solutions, such as invoicing and accounting, will follow later in 2024. For Adyen, this is the first launch of its banking-as-a-service solution in Germany.

Oliver Prill, CEO at Tide, said, “We are delighted to be expanding into Europe, with Germany our first stop. Our mission is to be the leading international financial platform for small businesses. As Tide grows in the UK, India, Germany and beyond, we are happy to be partnering with renowned financial technology provider Adyen. With Adyen, we can offer excellent banking-as-a-service solutions to our small business owners in Germany and beyond.”

Through its partnership with Adyen, Tide can fortify its customer-centric approach and leverage Adyen’s full-stack BaaS offering, which includes inbound and outbound payments via the SEPA payments system.

Tide members in Germany will receive a German IBAN when they open a business account from launch. This allows them to receive and spend money easily and with a local account reference. With the German IBANs, Tide is showing its commitment to providing exceptional, localised payment experiences and a solid understanding of small business needs.

Alexa von Bismarck, President of EMEA at Adyen, said, “We are delighted to support Tide in their growth plans and look forward to launching our banking-as-a-service solution in Germany. The addition of local IBANs in Germany exemplifies our commitment to building local offerings. We at Adyen listen carefully to our customers, know what their needs are, and respond by creating products that create trust and convenience for them in the market.”