ClearBank, through its partnership with business banking provider Tide, said it would “revolutionise” the SME market.
Chief executive Charles McManus said: “Our partnership with Tide will provide the SME banking market with an innovative and compelling customer proposition, using our highly agile technology.”
Tide Chief Executive Oliver Prill said: “We can start work today. Tide is already the fastest growing business banking service provider in the UK.
The funding will help Tide accelerate its strategy to capture a significant share of the market, and we plan to match this with further investment of our own.”