About Tesco Bank
Tesco Bank is a company based in Edinburgh (United Kingdom) founded in 1997 was acquired by Barclays in February 2024.. Tesco Bank has completed 1 acquisition, including Tesco Underwriting. Tesco Bank offers products and services including Credit Cards, Loans, Savings Accounts, and Mobile Banking App. Tesco Bank operates in a competitive market with competitors including Metro Bank, Investec, Virgin Money, SVB and HSBC, among others.
- Headquarter Edinburgh, United Kingdom
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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
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
Barclays
(Feb 09, 2024)
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Products & Services of Tesco Bank
Tesco Bank offers a comprehensive portfolio of products and services, including Credit Cards, Loans, Savings Accounts, and Mobile Banking App. 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.
Offers cards for purchases, balance transfers, and rewards programs.
Provides personal loans for cars, home improvements, and debt consolidation.
Includes fixed rate and easy access accounts for growing savings.
App for tracking spending, payments, and account management.
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Software Development Team
19 people
Product Management Team
14 people
Senior Team
14 people
Leadership Team
7 people
Operations Team
7 people
Finance and Accounting
7 people
Analyst Team
4 people
Head Team
4 people
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Funding Insights of Tesco Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 Tesco Bank
Tesco Bank has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Barclays. 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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Commercial banking services are provided by Barclays worldwide.
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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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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 Tesco Bank
Tesco Bank has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tesco Underwriting. 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 |
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Insurance underwriting and claims services are provided globally.
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2010 |
| 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 - Tesco Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
Tesco Bank Comparisons
Competitors of Tesco Bank
Tesco 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 Metro Bank, Investec, Virgin Money, SVB and HSBC, 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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Commercial banking services are provided in the United Kingdom.
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Global banking, investment, and wealth management services are offered worldwide.
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Virgin Money is recognized as a provider of banking and financial services in the UK.
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Banking services are provided to innovative companies, investors, and individuals.
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Universal banking and financial advisory services are provided globally.
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Diversified financial services are provided across global markets.
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tesco Bank
Frequently Asked Questions about Tesco Bank
When was Tesco Bank founded?
Tesco Bank was founded in 1997.
Where is Tesco Bank located?
Tesco Bank is headquartered in Edinburgh, United Kingdom. It is registered at Edinburgh, Scotland, United Kingdom.
Who is the current CEO of Tesco Bank?
Bernard Higgins is the current CEO of Tesco Bank.
What does Tesco Bank do?
Tesco Bank was established in 1997 as a retail banking entity based in Edinburgh, United Kingdom. Operations focus on providing everyday financial products such as current accounts, savings, loans, and insurance to individual consumers. Services are delivered primarily through digital channels and in-store integrations with the parent Tesco retail network. The bank serves the UK market, with oversight from the CEO, Bernard Higgins.
Who are the top competitors of Tesco Bank?
Tesco Bank's top competitors include Metro Bank, Investec and Virgin Money.
What products or services does Tesco Bank offer?
Tesco Bank offers Credit Cards, Loans, Savings Accounts, and Mobile Banking App.
How many acquisitions has Tesco Bank made?
Tesco Bank has made 1 acquisition, including Tesco Underwriting.
Who are Tesco Bank's investors?
Tesco Bank has 1 investor. Key investors include Barclays.
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