Tandem Money (ex Bank) has regained its banking licence by buying up the Harrods Bank.
Tandem Bank raised £2.34m on Seedrs in 2016 - alongside £22m million from an investor network. Unfortunately last year the company lost its banking licence when the deal they thought they had with House of Fraser fell through. Then they removed the word bank from their title and replaced it with money.
So now that they own a loss making bank, what's up?
Progress apparently. Well, we will just have to wait and see.
On the other hand any idea whats going on in "Den"? Raised 2.2M in March 2017 but communication and response is now lacking to a worrying level.
ReplyDeletewaiting for accounts. Speak to Seedrs about it.
ReplyDeleteTandem's valuation of 60M, I seem to remember, was based on them being in the position of 'having a banking licence' to paraphrase the slogan repeated multiple times in their seeder's pitch. The pitch is probably still view-able. What a lot of over-hyped nonsense of the valuation side, 60M for an app more like it.
ReplyDelete