Tide launches virtual office service for host of new companies on its roster

Digital SME banking provider Tide today launched a virtual office address service to help the ever-growing list of new companies using its services.

Tide has been popular with new business during the pandemic, in early 2020 the fintech launched a company formation service, which helps individuals register their company and apply for a bank account in one go, with Tide covering the Companies House registration fee.

According to data from Companies House, there was a spike in company registrations between July and September 2020, with over 51,000 new companies being added during this time, a 30 per cent increase on the same period in 2019.

The new service has been introduced in collaboration with virtual office address specialist Hoxton Mix, enabling new business owners to have a central London address office as they set up their business and apply for a bank account.

George Schmidt, VP of Marketing at Tide, said: “Incorporating a virtual office address service into our company formation offering means Tide now makes it quicker and easier than ever for people to register a business and get themselves up and running.” 

“Having a virtual office address allows entrepreneurs to keep their personal data private and run a professional business. As the trend towards working from  home seems set to continue, we expect to see increased interest in this service.”

Tide and Hoxton Mix first launched a beta trial of the new partnership in September 2020 and incorporated over 1,000 businesses with a virtual address in that time.

Chris Sees, co-founder of Hoxton Mix, added: “At Hoxton Mix, we are committed to helping SMEs manage their business operations by bridging the gap between technology and the physical workspace.”

“We firmly believe in the power of partnerships, and Tide is one that shares our same values on entrepreneurship and SME growth. We are excited to partner with Tide and look forward to future innovation and providing virtual office solutions for Tide customers.”

Tide’s new business customers will be able to access Hoxton Mix’s virtual address service from today.