Digital business bank Tide says it has received expressions of interest from 70 VCs worldwide over plans to raise funds matching the £60 million grant recently awarded to clearing bank partner ClearBank by the Banking Competition Remedies Board.
Tide, the emerging leader in SME challenger banking, has announced today that it has formed a partnership with ClearBank, the first new UK clearing bank in 250 years.
Tide, the emerging leader in SME challenger banking, has revealed today that has secured one per cent of the UK SME banking market, only two years since it first started operations.
Responding to the announcement by Barclays that it is ending free banking services for charities, Tide - the UK’s leader in SME challenger banking, has set up a dedicated hotline to help affected registered charities switch to their no monthly fee current account.
Following Tide’s budget submission to HM Treasury in September, new figures have been published from a survey of SMEs, indicating that they almost unanimously support challenger banking providers being able to apply for the RBS Alternative Remedies Package.
Business banking startup Tide is calling on the UK Government to open up access to the RBS bail-out fund to e-money institutions, arguing that the strict eligibility criteria for the £775 million package will serve only to stifle competition in the SME banking sector.
Tide, a UK-based mobile-first SME banking service, has received £8 million in fresh funding and welcomed former Kreditech chief operating officer Oliver Prill as CEO.
Digital-only banking service Tide is coming to the high street through a partnership with Paypoint which will enable customers to deposit cash into their accounts across a network of 29,000 retail stores.
Tide, a UK-based mobile-first SME banking service, has raised $14m in one of the largest Series A investment rounds closed by a fintech company this year.
Tide, a mobile-first banking app for small businesses, has launched in the UK with fintech czar and Passion Capital partner Eileen Burbidge as chairman.
© Finextra Research 2019