Tandem sees investment double in 3 days
By Alex LynnMobile challenger bank Tandem has secured more than double of its initial crowdfunding target of £1m, just three days after launching the campaign
Since investment opened on 20th May, Tandem has raised £2.1m on crowdfunding platform Seedrs, for a 3.18% equity share.
A spokesperson for Tandem said: "The response to our crowdfunding campaign has been incredible, currently standing at over £2m from over 1,500 investors - and over double our initial target.
“It's great to see so many people who want to be a part of building a better bank."
Tandem was initially valued at approximately £65m, with the £1m target representing a 1.5% equity share.
The bank had already raised approximately £22m in private investment prior to this most recent campaign.
Tandem received its banking licence in November 2015, and has since revealed that over 5,000 customers had pre-registered as ‘co-founders’.
It will launch later in 2016 with a range of credit cards, savings accounts and loans, all within an intuitive banking app.
Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, Broker news, Bridging loans, Tandem, challenger bank, crowdfunding, Seedrs
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/tandem-sees-investment-double-in-3-days