Blackpool, UK – 7 July 2023 – Tandem Bank, the UK’s greener digital bank, today announced that it has secured £20 million in Tier 2 capital from Quilam Capital.
The investment will be used to grow Tandem’s green lending proposition, which includes market-leading savings, home improvement loans, mortgages, motor financing, and consumer sharing offerings. The funds will also be used to expand Tandem’s team and invest in new technology.
“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. “Following a transformational 2022, this capital will put extra momentum behind our green lending proposition and allows us to capitalize on a number of exciting opportunities to further grow our business.”
Matt Glew, Director at Quilam Capital, said: “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 Bank journey and are looking forward to an exciting future together.”
There’s a growing interest in sustainable banking, and the timing is just right for Tandem’s investment. As consumers become more aware of the environmental impact of their financial decisions, they are increasingly looking for banks that offer sustainable products and services.
Tandem Bank has a strong track record of offering sustainable financial products and services, and it has a growing customer base. The investment from Quilam Capital will help Tandem to further expand its green lending proposition and reach more customers.
Deal Table for Tandem Bank (United Kingdom)
| Key People | Investors | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Alex Mollart, Chief Executive Officer | Quilam Capital | £20m | Banking | Series C |
Notable Sustainable Banking Startups
- Octopus Energy – A UK-based energy company that offers 100% renewable energy. The company has raised over £1.5bn in funding.
- Green Dot Bank – A US-based digital bank that offers a range of sustainable financial products and services. The company has raised over $1bn in funding.
- Fluidra – A Spanish company that provides water management solutions. The company has raised over €1bn in funding.
These startups are all focused on providing sustainable financial products and services. They are all at different stages of development, but they all have the potential to make a significant impact on the fight against climate change.
What is Sustainable banking?
Sustainable banking is a type of banking that takes into account the environmental impact of its activities. This means that sustainable banks avoid investing in or lending money to businesses that are harmful to the environment and instead focus on supporting businesses and projects that are good for the planet.
