According to Finextra, this calculated move is made possible by a partnership with payments platform Adyen, which is using its banking-as-a-service offering to meet the needs of small and medium-sized enterprises (SMBs) in the area.

Oliver Prill, CEO of Tide, expressed his excitement by saying, "We're excited to be moving into Europe, with Germany as our first destination. Being the top global banking platform for small businesses is our objective.

Tide will use the SEPA payments system to enable both incoming and outbound payments in collaboration with Adyen. Businesses in Germany that create an account will receive a local account reference and a German IBAN number, which facilitates easy receipt and disbursement of payments.

"We are delighted to support Tide in their growth plans and look forward to launching our banking-as-a-service solution in Germany," said Alexa von Bismarck, President of Adyen's EMEA region, in echoing this attitude. Our dedication to developing local products is demonstrated by the inclusion of local IBANs in Germany.

Tide has a market share of more than 10% among SMBs in the UK and is renowned for its expertise in business finance services. After launching in India in December 2022 and inviting German users to sign up for the waiting list in March 2024, Tide now has about 800,000 small enterprises as members in both India and the UK.