Digital bank, Tandem, has successfully raised £20m in Tier 2 capital from Quilam Capital, a growth investor with a specialisation in the finance sector.
The deal, which concluded in late June 2023, came after a process that saw financial services advisor Alantra supporting the bank.
“This investment marks another significant milestone for Tandem as we enter yet another exciting stage in our journey,” said Alex Mollart, chief executive officer of Tandem Bank. He added that the funds will propel Tandem’s green lending proposition and enable the bank to capitalise on growth opportunities.
Matt Glew, director at Quilam Capital, echoed Mollart’s sentiments. He added: “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.”
The bank offers a range of services, from savings and loans to mortgages and motor financing, all underpinned by a fintech banking platform.
