UK challenger bank Tandem has secured £20 million in new funding from Quilam Capital. The funding will support Tandem’s growth trajectory and enhance its green lending proposition.
Facts
- Tandem Bank has secured £20 million in new funding from Quilam Capital.
- The funding represents Tier 2 capital and concluded in late June with the assistance of financial services advisor Alantra.
- Tandem, founded in 2013 and headquartered in London and Blackpool, offers digital mortgage and savings products through its fintech banking platform.
- The bank provides green home improvement loans, EPC discount mortgages, and EV motor finance.
- Tandem has experienced “significant growth” in the past 12 months and aims to capitalize on further growth opportunities with the new capital.
- The acquisition of social money-sharing app Loop in April and consumer lender Oplo last year contributed to Tandem’s growth and profitability.
- Tandem plans to utilize the new funding to strengthen its green lending proposition and take advantage of business expansion possibilities.
