Tandem Bank, a UK-based digital institution renowned for its sustainability focus, has recently secured £20m from Quilam Capital.
Quilam, a seasoned investor specialising in the speciality finance sector, was instrumental in this capital raise.
In a significant boost to its expansion plans, Tandem bank has raised this considerable amount from Quilam Capital. The Tier 2 capital was secured in late June 2023, with financial services advisor Alantra playing a key role in the process.
Tandem Bank is on a mission, aiming to be the leading purpose-led, profitable digital banking platform in the UK. Committed to aiding households reduce their carbon footprints, Tandem is a proponent of the UK’s transition to a carbon-neutral economy. The bank has made a significant name for itself as a viable choice for those wishing to save, borrow, spend, and share a little bit greener.
Tandem intends to utilise this fresh capital to fuel their green lending proposition. As a bank, Tandem has consistently focused on sustainable and simple ways to save, borrow, and spend. With offerings like market-leading savings, home improvement loans, mortgages, motor financing, and consumer sharing, the bank is poised to capitalise on several exciting growth opportunities.
Alex Mollart, chief executive officer of Tandem Bank, expressed his optimism about this development, saying, “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. Crucially, we’ve found a great partner in Quilam – investors who truly understand our mission to be the UK’s greener bank and are committed to supporting our plans to get there.”
On the investor’s end, Matt Glew, director at Quilam Capital, also shared positive sentiments. He stated, “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.”
This funding event follows a notable year of transformation in 2022, marking a promising journey for Tandem in the digital banking landscape.
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