Blackpool-based challenger bank Tandem has opened an office in London in a show of faith in the City’s finance and fintech prowess.
Located in Bloomsbury Way, the new office for Tandem Bank will be the base of operations for the company’s marketing, treasury, risk and strategy teams.
“This move marks another milestone for Tandem. After a strong year of growth and breaking into an underlying profit for the first time last year, I’m excited about our evolution and what the future holds – including an exciting roadmap of greener products and propositions,” said Tandem CEO Alex Mollart.
“London is a core component. We’re proud to have our HQ in Blackpool and be part of the fintech revolution taking place in the North, but as the UK’s greener digital bank, London remains a crucial location for us and the UK’s fintech scene as a whole.
The Tandem CEO added that he was glad to “support the growing fintech scene” in London.
Tandem provides what it describes as sustainable banking services, including investments and loans towards clean energy transition projects.
The bank achieved its first year of operating profit in June, a rare feat for challenger banks, having secured a profit of £4.5m.
In July, Tandem raised £20m in an investment from Quilam Capital, an alternative finance investor.