Breaking News
Tencent Offloads Stake in Business Bank Tide
As part of the retreat of its international investment strategy, the Chinese tech giant Tencent has offloaded its shares in the business bank Tide to an unknown buyer or buyers.
In its recent filings, the financial institution’s Tencent Cloud Computing has reduced its stake in Tide from 14pc to zero as of April 2024.
Details surrounding the new owners are unclear at time of writing, however the business bank had facilitated a secondary share sale which provided early investors with an opportunity to liquidate their stakes in Tide. Secondary share sales are becoming increasingly common as tech companies wish to stay private for an extended period of time.
Tide was launched in 2015 to serve the needs of small and medium enterprises, and Tencent’s investment in Tide in 2022 was part of its wider strategy to get a foothold in the UK’s burgeoning fintech and financial services industries.
Tide has also received investment from private equity giant Apax Partners and Japan’s SBI Group.
Tide has gone on to launch its business banking services in the UK, Germany and India; as well as partnering with BT, Connect Earth and Ayden
- Payhawk Transforms Spending Experience for Businesses With Four Enterprise-Ready AI Agents Read more
- Alipay+ to Launch in Saudi Arabia, Facilitating Cross-Border Mobile Payments for Local Merchants Read more
- Saudi Central Bank Launches Google Pay Service Through Mada Network Read more
- Tamara Secures New Asset-Backed Facility of Up to $2.4 Billion Read more
- Starling Reveals New-Look Logo, App and Cards as Bank Launches Brand Mission to Help Britons Become ‘Good With Money’ Read more
Starling Reveals New-Look Logo, App and Cards as Bank Launches Brand Mission to Help Britons Become ‘Good With Money’
Starling has revealed major changes to its visual brand, with a new logo, colours and card designs set to roll out to the bank’s app
JPMorganChase and Plaid Announce an Extension to their Data Access Agreement for Sharing of Consumer Permissioned Data
JPMorganChase and Plaid announced a renewed data access agreement that will continue to allow their shared customers to safely and securely
HSBC Deploys Wealth Intelligence for Its Wealth Management Staff to Enhance Client Experience
HSBC Private Bank today announced the launch of Wealth Intelligence, a generative AI-powered ecosystem
Przelewy24 and Liberis Join Forces to Revolutionize E-commerce Financing
Liberis announced a strategic partnership with the Polish ecommerce payment operator, Przelewy24 to launch Przelewy24 Finance
Fiinu’s Plugin Overdraft® One Step Closer to Public Launch Through Exclusive Strategic Partnership with Conister Bank
Fiinu Plc has reached a significant milestone in bringing its revolutionary Plugin Overdraft® solution to UK consumers through an exclusive strategic partnership with Conister Bank Limited, a subsidiary of Manx Financial Group Plc.
Mercantile Bank Selects Jack Henry for Focus on Innovation and Growth
Jack Henry™ (Nasdaq: JKHY) announced today that Mercantile Bank, Michigan’s largest community bank, has selected Jack Henry to evolve its technology infrastructure, streamline operations, and support its long-term growth strategy.
Allvue Systems Launches Private Credit Intelligence, Expands Nexius into Enterprise Data Solutions
Private credit has grown rapidly in recent years, but concerns over opacity, inconsistent data, and limited visibility into credit risk and valuations have grown with it. Allvue, a leading provider of investment management technology for private capital markets, today announced Private Credit Intelligence, the industry’s first at‑scale data set built to solve these challenges. Drawing on rights‑cleared, audit-ready information across hundreds of thousands of loans and borrowers, it delivers the transparency, consistency, and reliability the industry has long lacked.
Payhawk Transforms Spending Experience for Businesses With Four Enterprise-Ready AI Agents
Payhawk announced set of AI agents that complete everyday finance work as part of its product launch
Alipay+ to Launch in Saudi Arabia, Facilitating Cross-Border Mobile Payments for Local Merchants
Ant International will launch cross-border QR code payments between the Saudi Arabia’s (KSA) national payment scheme, mada, Alipay+, during 2026 to drive digitisation and inclusive growth for local merchants.
Saudi Central Bank Launches Google Pay Service Through Mada Network
The Saudi Central Bank (SAMA) announced the launch of Google Pay through the Kingdom’s national payment network, Mada
Tamara Secures New Asset-Backed Facility of Up to $2.4 Billion
Tamara has secured the largest asset-backed facility of its kind in the region of up to $2.4 billion from major FIs
Starling Reveals New-Look Logo, App and Cards as Bank Launches Brand Mission to Help Britons Become ‘Good With Money’
Starling has revealed major changes to its visual brand, with a new logo, colours and card designs set to roll out to the bank’s app
barq Joins Forces With Thunes to Power Faster, World-Class Remittances Across Saudi Arabia
Thunes and barq launched barq’s enhanced remittance services to millions of consumers across the Kingdom
Paymentology Expands Presence in Saudi Arabia to Support Vision 2030 and Next-Generation Payments
Paymentology announcesd its commercial registration in Riyadh bringing card issuing and payment processing to Saudi Arabia