EBay Founder Joins Backers of U.K. Digital Startup Tandem Bank
- Pierre Omidyar's philanthropic vehicle buys unspecified stake
- Tandem Bank working to start offering products later this year
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Pierre Omidyar, the founder of EBay Inc., has joined investors in new online British lender Tandem Bank as it works to begin offering products to customers this year.
Omidyar Network, the EBay founder’s philanthropic investment vehicle, bought a stake in the lender in a funding round, London-based Tandem Bank said in a statement Monday, without disclosing the financial details. Other investors include Neil Utley, founder of British insurer Hastings Group Holdings Ltd., and venture capital firms Route66 and eVentures.