About Tandem Bank
Tandem Bank is a company based in London (United Kingdom) founded in 2013 by Ricky Knox. It operates as a FinTech, and Green Energy-as-a-Service. Tandem Bank has raised $308.7 million across 11 funding rounds from investors including Convoy, Quilam Capital and Qatar Investment Authority. Tandem Bank has completed 5 acquisitions, including Allium Money, Harrods Bank and Loop. Tandem Bank offers products and services including Savings Accounts, Motor Finance, Home Improvement Loans, and Mortgages. Tandem Bank operates in a competitive market with competitors including Starling Bank, Monzo, Revolut, Atom bank and Bunq, among others.
- Headquarter London, United Kingdom
- Founders Ricky Knox
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Tandem Bank Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$308.7 M (USD)
in 11 rounds
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Latest Funding Round
$25.43 M (USD), Series C
Jun 01, 2023
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Investors
Convoy
& 6 more
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Employee Count
Employee Count
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Investments & Acquisitions
Allium Money
& 4 more
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Products & Services of Tandem Bank
Tandem Bank offers a comprehensive portfolio of products and services, including Savings Accounts, Motor Finance, Home Improvement Loans, and Mortgages. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Savings accounts are offered for earning interest securely.
Motor finance is provided for greener vehicle purchases.
Loans are provided for energy-efficient home improvements.
Mortgages are offered with energy efficiency discounts included.
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Software Development Team
8 people
Leadership Team
6 people
Finance and Accounting
6 people
Head Team
5 people
Sales and Marketing
4 people
Human Resources and Administration
4 people
Operations Team
3 people
Senior Team
3 people
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Funding Insights of Tandem Bank
Tandem Bank has successfully raised a total of $308.7M across 11 strategic funding rounds. The most recent funding activity was a Series C round of $25.43 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 11
- Last Round Series C — $25.4M
- First Round First Round
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Series C - Tandem Bank | Valuation |
investors |
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| Mar, 2020 | Amount | Series C - Tandem Bank | Valuation | Qatar Investment Authority |
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| Jul, 2019 | Amount | Series C - Tandem Bank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Tandem Bank
Tandem Bank has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Convoy, Quilam Capital and Qatar Investment Authority. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Quilam Capital is engaged in providing growth capital and senior debt solutions.
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Founded Year | Domain | Location | |
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Investments are made in digital society, education, and employability sectors.
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Founded Year | Domain | Location | |
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Early, growth & late stage VC firm investing in the US
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Tandem Bank
Tandem Bank has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Allium Money, Harrods Bank and Loop. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Loop is developed as a money-sharing application for friends.
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2020 | ||||
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Green energy loans are provided via an online marketplace.
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2016 | ||||
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Automated personal finance management
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Tandem Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Tandem Bank Comparisons
Competitors of Tandem Bank
Tandem Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Starling Bank, Monzo, Revolut, Atom bank and Bunq, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Digital banking services are offered to consumers and businesses.
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| domain | founded_year | HQ Location |
Internet first bank for individuals and businesses
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| domain | founded_year | HQ Location |
Banking solutions are provided for retail customers and businesses.
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| domain | founded_year | HQ Location |
Digital banking services are provided for individuals and businesses.
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| domain | founded_year | HQ Location |
Digital banking services are offered to individuals and businesses.
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| domain | founded_year | HQ Location |
SME-focused banking services are offered to consumers and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tandem Bank
Frequently Asked Questions about Tandem Bank
When was Tandem Bank founded?
Tandem Bank was founded in 2013 and raised its 1st funding round 1 year after it was founded.
Where is Tandem Bank located?
Tandem Bank is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Is Tandem Bank a funded company?
Tandem Bank is a funded company, having raised a total of $308.7M across 11 funding rounds to date. The company's 1st funding round was a Series C of $120.4K, raised on Mar 03, 2014.
What does Tandem Bank do?
Tandem Bank is established as a digital banking entity in the United Kingdom, emphasizing sustainable and green financial solutions. Services are provided in sectors such as savings, motor finance, home improvement loans, and mortgages, with a focus on promoting energy efficiency and environmental sustainability. Deposits are utilized to fund greener choices for customers, including solar panel installations and electric vehicle purchases. Tools and resources are offered through the Green Hub to help customers reduce their carbon footprint and live sustainably.
Who are the top competitors of Tandem Bank?
Tandem Bank's top competitors include Revolut, Monzo and Starling Bank.
What products or services does Tandem Bank offer?
Tandem Bank offers Savings Accounts, Motor Finance, Home Improvement Loans, and Mortgages.
How many acquisitions has Tandem Bank made?
Tandem Bank has made 5 acquisitions, including Allium Money, Harrods Bank, and Loop.
Who are Tandem Bank's investors?
Tandem Bank has 7 investors. Key investors include Convoy, Quilam Capital, Qatar Investment Authority, Omidyar Network India, and Route 66 Ventures.
What is Tandem Bank's valuation?
The valuation of Tandem Bank is $200.1M as of Jul 2019.
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