Digital bank Tandem has announced that it has secured £20 million in Tier 2 capital from Quilam Capital, a growth investor with expertise in the speciality finance sector.
The capital raise concluded in late June 2023, following a process supported by financial services advisor Alantra.
Commenting on the transaction, Alex Mollart, Chief Executive Officer of Tandem Bank, said “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 Quliam – investors who truly understand our mission to be the UK’s greener bank and are committed to supporting our plans to get there.”
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 journey and are looking forward to an exciting future together.”