Cases & Deals

Convoy Global Holdings invests £15 million in Tandem Money

Clients Convoy Global Holdings Limited

Jones Day advised Convoy Global Holdings Limited in connection with its initial investment of £15 million in Tandem Money Limited. Founded in 2013, Tandem is a prime UK challenger bank which provides an app-based retail bank service for over 300,000 customers. This is a follow-on fintech mandate for Jones Day having advised Convoy on its investment in Nutmeg Savings and Investment Limited. Tandem has a record of low-cost customer acquisitions and expects to become the highest revenue-generating digital bank in the UK. Convoy and Tandem plan to introduce a digital only app-based banking offering to the Asian market in the near future.