The company was founded by Ricky Knox, Matt Cooper and Michael Kent in 2014. In December 2016, Tandem announced that it had secured a £35 million investment from The Sanpower Group, the Chinese company that also owned the department store
House of Fraser; however, £29 million of this investment was later revoked by Sanpower over concerns that the Chinese Government would object to the investment following increased restrictions on outbound investment in China. This resulted in a delay in the launch of Tandem's savings products, which, at the time of the revocation, was expected imminently and, more importantly, meant that Tandem volunteered the return of their
banking license but retained all other permissions.
Acquisitions In August 2017, it was announced that Tandem would fully acquire Harrods Bank, founded in 1893, in a deal that would bring a near-£200m loan book, over £300m of deposits and nearly £80 million of capital. In March 2018, Tandem agreed to acquire Pariti Technologies Limited, developers of the Pariti money management application. In August 2020 Tandem acquired green home improvement loan specialists Allium Lending Group. It was announced on 8 February 2021 that Tandem had agreed to purchase the mortgage book from private bank
Bank and Clients, consisting of 300 B&C customers for an undisclosed amount. In January 2022 Tandem Bank acquired consumer lender Oplo, creating a combined business with £1.2 billion of total assets. In April 2023, it was announced that Tandem had acquired money-sharing app Loop Money. At the time of the purchase, one of Loop's founders –
Paul Pester – was also chairman at Tandem. == Features ==