Tandem, a London UK-based full-service digital bank, raised a Series B-1 equity funding round.
The amount of the round was not disclosed.
Backers included Omidyar Network, which made the investment via the Financial Inclusion initiative. Other investors include Route66 Ventures, e.ventures and Nigel Morris.
Led by Ricky Knox, cofounder and deputy CEO, Tandem leverages big data analytics, along with behavioral and human-centered design concepts, to offer consumers in the UK a low cost banking experience.
The company, already licensed by the Bank of England, is now offering about 5% of its stock to people via a co-founder program in exchange of advice on products and strategies. It plans to start operations later this year in the UK.
Tandem is hiring in London (read here).