18 February 2018
Visit www.avoka.com

Tandem to kickstart £1 million crowdfunding campaign

03 May 2016  |  6098 views  |  0 20 pound note

Tandem is following in the footsteps of rival UK startup Mondo by launching a £1 million crowdfunding campaign, enabling future customers to own shares in the mobile-first challenger bank.

Tandem will be hoping to generate the same level of buzz that surrounded the Mondo raise in March, which generated £1 million in pledges in a record-breaking one minute and 36 seconds on crowdfunding platform Crowdcube. Mondo was forced to suspend its initial launch date for the crowdfunding rise, after a rush of applicants from eager investors overwhelmed Crowdcube servers.

Tandem received its banking license at the end of 2015 and is set to launch later this year, having raised 'tens of millions of pounds', according to founder Ricky Knox. The most recent unspecified Series B-1 round investment in April came from Omidyar Networks, the philanthropic fund established by eBay founder Pierre Omidyar and his wife Pam.

Tandem has already established a 'Co-Founder Community', through which members of the general public receive one share in the startup and exclusive access to new products in exchange for feedback and closer engagement with the bank. Five thousand people have so far joined the network, says Knox.

Knox told CNBC that the crowdfunding page will be on Tandem's website and will begin sometime in mid-May.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Tandem Bank seeks engagement with 'Co-Founder' community; Omidyar invests

Tandem Bank seeks engagement with 'Co-Founder' community; Omidyar invests

05 April 2016  |  8361 views  |  0 comments | 12 tweets | 12 linkedin
Mondo stumbles on move into public beta

Mondo stumbles on move into public beta

17 March 2016  |  11803 views  |  3 comments | 11 tweets | 6 linkedin
Mondo takes just a minute to raise £1 million

Mondo takes just a minute to raise £1 million

03 March 2016  |  9864 views  |  0 comments | 25 tweets | 9 linkedin
Mondo reboots crowdfunding campaign

Mondo reboots crowdfunding campaign

02 March 2016  |  4421 views  |  0 comments | 1 tweets | 1 linkedin
Mondo rush breaks Crowdcube

Mondo rush breaks Crowdcube

29 February 2016  |  5996 views  |  0 comments | 10 tweets | 3 linkedin
Mondo invites customers to become investors with £1 million crowdfund raise

Mondo invites customers to become investors with £1 million crowdfund raise

15 February 2016  |  9687 views  |  0 comments | 14 tweets | 10 linkedin
Tandem selects Fiserv Agiliti as IT backbone

Tandem selects Fiserv Agiliti as IT backbone

09 February 2016  |  7669 views  |  1 comments | 9 tweets | 7 linkedin
Mobile-first Tandem gets UK banking license

Mobile-first Tandem gets UK banking license

01 December 2015  |  14053 views  |  0 comments | 28 tweets | 21 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsvisit www.nextgenbanking.co.ukVisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10462 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8247 views comments | 15 tweets | 41 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
7732 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7607 views 3 | 9 tweets | 4 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job