Commercial Finance
Tandem Bank secures £20m in funding
Tandem Bank has secured £20m in Tier 2 capital from Quilam Capital, which will put “extra momentum” behind its green lending proposition and further grow its business.
The firm was launched in 2014 and has a fintech banking platform serving over 280,000 customers.
The investment “re-enforces the growth trajectory” set by Tandem as it aims to be the £UK’s leading purpose-led, profitable digital banking platform”.
The capital raise was concluded in June and was supported by financials services adviser Alantra.
Alex Mollart, chief executive officer of Tandem Bank, said: “This investment marks another significant milestone for Tandem as we enter yet another exciting stage in our journey.
“Following a transformational 2022, this capital will put extra momentum behind our green lending proposition and allows us to capitalise on a number of exciting opportunities to further grow our business.
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“Crucially, we’ve found a great partner in Quliam – investors who truly understand our mission to be the UK’s greener bank and are committed to supporting our plans to get there.”
Matt Glew, director at Quilam Capital, said: “We’re delighted to be partnering with Tandem through this strategic investment. Tandem is perfectly positioned to continue to grow its market leading green lending proposition, which our capital will help to unlock.
“We’re proud to join the Tandem journey and are looking forward to an exciting future together.”