Tide, one of the UK’s leading business financial platforms, has teamed up with global payments provider Adyen to provide small and medium-sized businesses (SMBs) with Tide business accounts, starting with Germany and later expanding across Europe.

Following its strategic entry into the German market in March, Tide’s partnership with Adyen aims to offer cost-effective and efficient business accounts to SMBs in Germany who may lack a finance function. With over 800,000 small businesses already onboarded in the UK and India, Tide’s expansion into Germany marks another milestone in its international growth strategy.

In addition to offering business accounts, Tide plans to introduce highly connected finance and admin solutions, including invoicing and accounting, to the German market throughout 2024. Oliver Prill, CEO at Tide, emphasizes the company’s mission to become the leading international financial platform for small businesses.

The collaboration with Adyen also signifies the first commercial use of Adyen’s banking-as-a-service (BaaS) solution in Germany. Adyen’s full-stack BaaS offering, including inbound and outbound payments via the SEPA payments system, will support Tide’s customer-centric approach, providing SMBs with local IBANs for seamless receipt and spending of money.

Alexa von Bismarck, President EMEA at Adyen, highlights the company’s commitment to building local offerings and responding to customer needs by creating products that prioritize trust and convenience in the market. The partnership between Tide and Adyen aims to empower SMBs in Germany with exceptional, localized payment experiences tailored to their specific business requirements.