Tide, the mobile-only challenger bank pitched at small businesses, has appointed a new chief technology officer.
New CTO Guy Duncan is set to join the digital banking platform. Duncan was previously the chief technology officer at BMW’s connected car venture.
The executive-level hire comes a week after Tide announced it had raised £44m to fuel growth. The company currently employs 250 staff but hopes to grow that to 300 by the end of the year and is working on new products such as credit and expense management.
London-based Tide was founded in 2015, part of a wave of mobile-only banks and bank-like products. Unlike others such as Revolut or Monzo, Tide only offers business accounts and has attracted over 110,000 customers to date. Its account has specialist features such as payroll management and accounting integrations.