6 years ago

Tandem Bank Secures £50 Million Funding Round, CTO Steps Down

  • Tandem, a UK digital bank with nearly 1 million customers, is nearing a £50 million funding round, despite falling short of its initial £100 million target

  • The raise comes as the company’s CTO, Paul Clark, steps down, and Tandem’s CEO, Ricky Knox, confirmed that the new investment will go towards meeting capital requirements and achieving profitability

  • The company also plans to launch in Hong Kong and is discussing a potential acquisition of a local digital bank

  • Tandem’s focus is on using open banking and artificial intelligence to help customers understand and save their money.

      • ProblemFinancial Services

      "Making banking more accessible and affordable for people who need help saving money and managing their finances."

      Solution

      "Tandem offers a range of financial products, including savings accounts, credit cards, and personal loans, using open banking and artificial intelligence to help customers understand and save their money."

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