Tide, Clearbank apply for BCR grants  

August 05, 2020 | Data & Analytics

Written by FinTech Alliance

Tide, Clearbank apply for BCR grants  

Both Tide and Clearbank have applied for grants from the Banking Competition Remedies Fund.  

In Brief:  

  • The FinTechs have collaborated to ask for two sets of funding worth £25mn and £35mn.  

  • This is from the Capability and Innovation fund of RBS’ bailout package.  

  • They have applied for the funding to support SMEs through Covid-19.  

What does this mean?  

Tide and Clearbank will use the funding to support SMEs through finance and products, helping them thrive in a post-Covid and post-Brexit world. Clearbank’s payment infrastructure and Tide’s digital banking platform should provide an alternative to high street lenders for smaller businesses.  

Read more here.   

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