Tandem Bank Acquires Allium Money
August 24, 2020
The U.K.-based Tandem Bank has purchased Allium Money, an alternative lender that offers consumers financing to improve the energy efficiency of their homes. Tandem Bank will use Allium to enhance its existing in-house lending suite, tapping into Allium’s green lending solutions that help homeowners finance everything from insulation to efficient windows to solar panels.
Specific terms of the deal cannot be disclosed, but it is made possible by Tandem’s $78M (£60M) funding round that was led by Qatar Investment Authority and closed recently.
The partnership comes at a good time. With an increased focus on climate change and awareness of their impact on the environment, consumers have shown a heightened interest in green initiatives. Along with home improvements, ESG (environmental, social, and governance) investing is also gaining interest.