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Mobile-first business bank Tide offering superquick account opening launches today

The new mobile-first business bank, Tide, officially launches today as it aims to revolutionise how small businesses do their banking.

Backed by some of UK tech’s most-esteemed names, including Passion Capital Partner, Eileen Burbidge, Zoopla Founder Alex Chesterman and LoveFilm Co-Founder William Reeve, the challenger bank allows customers to set up account in minutes using just their driver’s license or passport.

Available on iOS, Android and online, the bank received $2m (approx. £1.5m) in seed funding back in July last year to help support its Alpha stage and gear the app up for launch.

George Bevis, Tide Chief Executive and Founder, said to City AM: “For too long, the business services offered by high street banks have failed to meet the needs of the modern small business owner.

“With slow sign-up processes, hidden charges and poor customer experience, business banking has been stuck in the dark ages.

“Tide is designed solely to meet the needs of small business owners. We want to remove the pain points that small business owners have previously faced and make Tide a true partner in their day to day business.”

Commenting back in July, Burbidge said: “With Tide, small business owners can get an intuitive mobile-first experience that is almost instant to set up and easily integrates with best in class cloud-based tools and services seamlessly.

“I’m looking forward to playing an active role in Tide’s growth and ushering in a new age of customer-first online business banking.”

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