Tide, the UK’s leading business financial platform, has announced an expansion into Germany.

The move represents the British FinTech’s first step in its expansion into continental Europe as it looks to internationalise its operations.

Tide it could help Germany’s three million small businesses  save time and money.

CEO Dr Oliver Prill described it as a ‘significant milestone’ and said: “Small businesses are the backbone of most economies. Germany is no different.

“Tide has a deep understanding of the pain points of the self-employed and freelancers – and we are here to help reduce these financial and admin management burdens with our advanced business financial platform.

“Our plan is to launch in the coming months starting with our business account and card products. We will roll out our full platform capabilities to Germany step-by-step.

“With over 575,000 small and medium enterprises (SMEs) in the UK, more than 10 per cent of the market, we are well positioned to offer highly connected finance and admin solutions to small businesses that don’t have a finance function.”

The entry in Germany comes after Tide’s successful launch in India, the world’s largest SME market, in December 2022, where it now has more than 200,000 members.

Chris Barton, His Majesty’s Trade Commissioner Europe, said: “We are delighted that Tide is entering the German market and beginning to grow in continental Europe.”

Rising Tide appoints first chief risk officer