FinTech Journey Of Success: London-based digital bank, Tandem Bank

Tandem Bank is a digital banking firm that specializes in saving, lending, and green finance, developing innovative solutions and cutting-edge technologies to lower financial obstacles and simplify money management.

Company Overview

• Tandem Bank was founded in the year 2013.
• Headquartered in London, England, United Kingdom.

• Founders:
  • Matt Cooper, who is the company’s Chairman; 
  • Michael Kent;
  • Ricky Knox, who was previously the company’s Chief Executive Officer (CEO);

• Board Members:
  • Paul Pester, as the Chair Designate;
  • Susie Alike, as the current Chief Executive Officer (CEO);
  • Alex Mollart, as the Deputy Chief Executive Officer;
  • Anthony Murphy, as the Chief Finance Officer;
  • Matthew Donaldson, as the Non-Executive Director;
  • David Fisher, as the Senior Independent Director;
  • David Torpey, as the Non-Executive Director;
  • James Scott, as the Non-Executive Director;
  • Matthew Potter, as the Non- Executive Director;
  • Talita Ferreira, as the Chair of the Audit Committee;
  • Margaret Hassall, as the Chair of the Remuneration Committee;

• The firm has had seven fundraising rounds, where it managed to raise a total of around 175.8 Million US Dollars.
• Tandem acquired Harrods Bank in the year 2018, and in the year 2020, it bought Allium Lending Group. 

Company Expertise

• Digital Banking,
• Green Banking,
• Personal Finance,
• Financial Technology,
• Savings,
• Credit cards,
• Loans,
• Mortgages,
• Customer service.

Fundraising Rounds and Investors:

• In April 2016, the company had its Series A round of funding, where it raised around 22 Million Pound Sterling (GBP). The investors of this round were:
  • San Francisco-based Venture Capital (VC) firm, Headline;
  • Frankfurt-based Venture Capital (VC) company, TA Ventures;
  • California-based investment firm, Omidyar Network;
  • Virginia-based Venture Capital (VC) and private equity firm, Route 66 Ventures;
  • London-based department store company, House of Fraser;
  • Nigel Morris, as an angel investor;

• In May 2016, the company had another Series A round of funding, where it raised around 2.3 Million Pound Sterling (GBP). The investor of this round was:
  • London-based equity crowdfunding platform, Seedrs;

• In December 2016, the company had its Series B round of funding, where it raised around 6 Million Pound Sterling (GBP). The investor of this round was:
  • London-based department store company, House of Fraser;

• In August 2017, the company had another Series B round of funding, where it raised around 3.6 Million Pound Sterling (GBP). The investors of this round were:
  • San Francisco-based Venture Capital (VC) firm, Headline;
  • California-based investment firm, Omidyar Network;
  • Virginia-based Venture Capital (VC) and private equity firm, Route 66 Ventures;

• In January 2018, the company had another Series B round of funding. The investor of this round was:
  • California-based Venture Capital (VC) firm, Flourish Ventures;

• In November 2018, the company had its Series C round of funding, where it raised around 15 Million Pound Sterling (GBP). The investor of this round was:
  • Hong Kong-based insurance company, Convoy Global Holdings Limited;

• In March 2020, the company had its Series D round of funding, where it raised around 78 Million US Dollars. The investor of this round was:
  • The Qatar Investment Authority;

Tandem Bank analyzes standing orders, bills, and regular payments when the customer’s accounts are linked to its application; this is done to give users valuable guidance on their expenditures. The firm’s goal is to establish itself as “The Good Green Bank ”, dedicated to assisting clients in lowering their carbon footprints and fostering a future for Earth that is much better and sustainable.

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