Tandem Bank has revealed plans for a float on the stock market within the next five years, as funding and growth opportunities for the FinTech challenger ramp up.

The company, which offers a mobile-controlled credit card, last year obtained a banking licence after the purchase of Harrods Bank.

Matt Ford, the digital bank’s product and marketing director, told the Press Association that an initial public offering was “probably one [path] that aligns closest to our mission”.

He continued: “We want to build this customer-centric business and then an IPO makes perfect sense, having the public buy into that business and it grow further.”

While Ford gave the time frame of three to five years, he underlined that any official move would depend on the market and the pace at which the company can scale up.

Over the course of 2018, Tandem acquired almost 500,000 customers, beating an internal target of 150,000, and launched six new products, including a cash-back credit card.

In October, FStech reported that Ford had predicted the emergence of a “global digital banking Goliath” in the coming decade, as consumers embrace the opportunities of FinTech on global scale.

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