Alantra advises Tandem Bank on its £20m Tier 2 capital raising process

Jun 2023

Sell-side advisory - Tier 2 capital

Value £20,000,000

London – Alantra has advised Tandem Bank, a UK purpose-led digital bank offering savings, home improvement loans, mortgages, motor financing and consumer sharing offerings, on its £20m Tier 2 capital raising process subscribed by Quilam Capital.

As the UK’s greener, digital bank, Tandem Bank is focused on helping households reduce their carbon footprint and supporting the UK’s transition to a carbon neutral economy. It has been further cementing its position as one of the nation’s go-to banks for those looking to save, borrow, spend and share a little bit greener – with significant growth in the past 12 months. Underpinning these propositions is a strong fintech banking platform, that includes an award-winning app and a digital franchise that supports a growing network of financial advisers and brokers.

Quilam Capital is a specialist growth investor, offering experienced support to portfolio companies operating in the Speciality and Alternative Finance market.

Alex Mollart, CEO of Tandem Bank, said: “This investment marks another significant milestone for Tandem Bank 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 several exciting opportunities to further grow our business. We’ve found a great partner in Quliam, an investor who truly understands 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.”

Alantra’s FIG team assisted Tandem Bank in the identification of potential investors for its Tier 2 capital raise, led the preparation of marketing materials, supported investors’ due diligence process, and assisted in the commercial negotiations of legal documents. The transaction adds to Alantra’s strong set of capital solutions for banks of all shapes and sizes.