# Tandem Money

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tandem-money

- Industry: Financial Services
- Headquarters: Blackpool, UK
- Website: www.tandem.co.uk
- Total disclosed funding: $47M
- Latest round: Series B (May 31, 2016)
- Investors on record: 8

## About

Based in the UK, Tandem Money Limited offers innovative financial solutions aimed at promoting sustainable banking practices while enhancing user experience.Tandem Money Limited operates primarily in financial services, providing consumer banking solutions with a focus on sustainability. Founded in 2013, the company is headquartered in Blackpool, UK. The firm has successfully engaged in 11 deals, with its latest funding round occurring on June 22, 2023, where it raised GBP 20 million in GROWTH funding from Quilam Capital. The company was founded by Carl Dalby, Donald Hollist, Michael Kent, Mohamed Rajhi, and Seyi Adegoke, showcasing a strong leadership team alongside CEO Alex Mollart and COO Susie Aliker.Tandem Bank offers a range of financial products designed to promote greener banking solutions while optimizing user experience. Its core offerings include savings accounts, motor finance, home improvement loans, and specialist mortgages, with a unique focus on financing energy-efficient options such as solar panels and electric vehicles. Customers can utilize the bank’s mobile application to manage their accounts, access various financial services, and find resources aimed at reducing their carbon footprint. The bank primarily serves environmentally conscious consumers in the UK, aiming to cater to individuals seeking to align their financial choices with sustainable living practices. The products are designed to facilitate improved financial management and promote investments in greener technologies, effectively addressing the growing demand for sustainable financial solutions.In the most recent year, Tandem Bank reported revenue of GBP 109,363,045.20 and an EBITDA of GBP 8,482,393.70. The bank generates revenue through interest income from its diverse financial products and possible fees associated with their services. Its revenue model is rooted in retail banking, providing direct consumer finance solutions such as savings accounts and loans. Customers may open savings accounts to earn interest on their deposits while also funding greener initiatives, contributing to the bank's lending income through loans for electric or low-emission vehicles. Each product is tailored to meet customer needs and support the bank's mission of promoting sustainable financial practices.Tandem Money Limited plans to utilize the GBP 20 million raised in GROWTH funding to expand its market reach and develop new products. The company is focused on launching upcoming financial products designed to further enhance its eco-friendly banking solutions. Specific plans for market expansion include targeting additional regions throughout the UK, although exact dates have not been disclosed. The funding will support these initiatives, enabling Tandem to continue its commitment to sustainability while catering to the increasing demand for environmentally conscious financial services.

## Funding rounds

- Series B, May 31, 2016, $17M — Headline, TA Ventures, QED Investors, Financial Inclusion Network And Operations Limited, Omidyar Network, Route 66 Ventures, Republic
- Series B, Jan 18, 2016, $15M — Headline, TA Ventures, QED Investors, Financial Inclusion Network And Operations Limited, Seedrs Limited, Omidyar Network, Route 66 Ventures
- Series A, Oct 2, 2015, $7.4M — Route 66 Ventures
- Series A, Jun 22, 2015, $7.8M — Route 66 Ventures

## Investors

- Route 66 Ventures (https://capitalatlas.ai/funds/route-66-ventures) — Series A, Series B
- Headline (https://capitalatlas.ai/funds/headline) — Series B
- TA Ventures (https://capitalatlas.ai/funds/ta-ventures) — Series B
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series B
- Financial Inclusion Network And Operations Limited — Series B
- Seedrs Limited — Series B
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series B
- Republic — Series B