Is House of Fraser Pumping £35m Into The Ultimate Anti-corporate Startup Bank?

Suit you sir! News reaches HHH that House of Fraser may be about to invest £35m into digital challenger bank Tandem.

The Fintech disruptor which landed a banking licence last year and has since introduced a mobile banking app that keeps track of your spending is seen by HOF’s Chinese owners, Sanpower, as the perfect way to offer enticing financial solutions to its millennial customers.

HOF opened its first store in China this month, but only after a series of delays, and says it faces “challenging trading conditions.” The firm will also part company with its long standing Chief exec, Nigel Oddy, who has resigned and will leave next year.

Is Tandem the mouse that can help the lion get its mojo back? Founded by ex-Grooveshark execs (who remembers Grooveshark – a brilliant music streaming site that was forced to shut-down after a copyright infringement was brought by Warner, Universal and Sony), Tandem say they are building a “good” bank, “where our hard-earned cash works for us”.

The firm has 9,168 co-founders according to its website; that’s because anyone can become one by joining the community – and not just any community but one that is as hipster and disruptive as it gets. Check out this video of the day the team decided to illustrate the misery of the corporate world – by taking over a pub for the day!

Ah, hipsters and their barge dwelling, craft beer drinking ways – anyone read Animal Farm recently?

But seriously, it’s easy to criticise, harder to run a bank – although not that hard, as Tandem are proving. Suck it up, bankers.

Use our exclusive HHH referral code to become a Tandem co-founder – W5CV8 – hurry, hurry, chips and curry! 

%d bloggers like this: