Tide CEO Goes Out

Laurence Krieger calls it quits at the SME banking provider after one year in the role.

The UK CEO of SME banking provider Tide didn’t hang around long and has waved goodbye to the fintech firm.

In a jovial LinkedIn post, Laurence Krieger explains: “Friends, after five years in leadership roles at Tide, now’s the time that I have decided to move on. I will miss our talented Tide team, our partners, investors and of course Tide’s Members, who without their entrepreneurial spirit, there would be no Tide. Equally, I’m excited about the future, both Tide’s and my own. I’m not going far as I will continue to be fully engaged in the fintech space, working with some game-changing organisations.”

He adds: “Tide has a fantastically bright future and is without doubt the best team. I remain its biggest fan and will be cheering from the sidelines.”

That sounds wonderful, but at the time of writing there is no official announcement on Tide’s website or social media accounts. Usually when CEOs leave there is a statement.

eWeek UK contacted Tide for clarification.

A Tide spokesperson explains: “Laurence has sadly left Tide having decided to take some time to rebuild his health after a serious illness. We wish him all the very best and are in the process of recruiting a UK CEO to carry on his incredible work in building the UK business.”

Krieger’s job title is now “Fintech Advisor and Investor”. He was UK CEO of Tide for one year. Prior to that he was Tide’s Chief Operating & Product Officer, and Chief Operating Officer. Krieger also worked at Revolut and Yahoo!

Tide doesn’t have one CEO. Oliver Prill is Tide’s overall CEO, while Gurjodhpal Singh is the CEO for Tide in India.

Tide was founded in 2015 and is used by over 370,000 businesses. It has raised over £200 million in funding.

Its platform offers business accounts and related banking services, and a set of admin tools for businesses, such as integration with accounting systems.

The fintech firm has offices in Central London, with a member support and technology centre in Sofia, a technology centre in Hyderabad and offices in Gurugram, India.

With the SME sector in the UK being very crowded and competitive, Tide has perhaps wisely made a move on the Indian market and will be launching there soon.

Along with the high street banks, other challenger banks in this SME space in the UK include Allica Bank, Recognise Bank, Bank North, mibanc, Mettle, GB Bank, Soldo, Starling, Monzo and Revolut.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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