Tandem acquires money management app Pariti
Tandem buys Pariti
UK-based challenger bank Tandem is buying Pariti, a money management app with 95,000 users.
Pariti was founded in 2014 by Matthew Ford, who is the company’s CEO. It is understood that he is now joining Tandem, alongside Pariti’s CTO Peter Townsend. So perhaps it is more of an “acqui-hire” than an acquisition.
Pariti’s investors include Index Ventures and JamJar Investments.
In 2016, Pariti partnered with HSBC to power the bank’s micro-savings app, SmartSave, but the partnership did not move beyond the trial phase.
Tandem has recently completed its acquisition of Harrods Bank, which came with a banking licence and £80 million of capital.
