The digital banking platform hopes to achieve an 8 per cent market share by 2023.
Tide, the digital business banking platform, has today announced that it is close to hitting 150,000 customers or 2.5 per cent of the UK’s SME market.
In February 2019, the partnership helped Tide to secure £60m for the RBS Alternative Remedies Package.
Oliver Prill, CEO of Tide, said: “ClearBank and Tide have led the way in encouraging the growth of business banking in the UK, with almost 150,000 members signed-up to the Tide platform which has an extensive and growing range of products and services.”
Tide is now one of the largest digital business banks in the market and has seen its popularity grow through the launch of its paid premium accounts, a QuickBooks bank feed and the ability for businesses to sign up online.
“Now one year into our partnership, we are making strong progress on our commitments, bringing enhanced services and genuine competition to business banking for UK SMEs.”