Fintech/News/ Ricky Knox departs Tandem, as digital bank takes new path An investor note seen by Sifted states that Ricky Knox, who founded Tandem, is departing as CEO and director By Isabel Woodford 25 May 2021 \Fintech Which European banking app is winning the race for customers? By Amy O'Brien 21 February 2023 Fintech/News/ Ricky Knox departs Tandem, as digital bank takes new path An investor note seen by Sifted states that Ricky Knox, who founded Tandem, is departing as CEO and director By Isabel Woodford 25 May 2021 Tandem, one of the UK’s earliest digital banks, is waving goodbye to its cofounder and CEO, Ricky Knox. In an email to investors seen by Sifted, Tandem’s General Counsel Ed Freeman said Knox was departing on 30 June, and was seeking investor approval for a departure agreement. Freeman said the board had agreed that Knox — who founded Tandem in 2014 — would “step down”. However, it then described the move as a “loss of office” and said Knox was seeking “certain payments” and benefits to compensate. The change in leadership follows a sharp pivot for the fintech, which has struggled to break even and scrapped its consumer credit card last year. Since then, the company’s future is understood to have been heavily influenced by one of its private equity investors, Pollen Street Capital (PSC). PSC told Sifted last year that despite only holding a 15% stake in Tandem, they would be shaping Tandem’s roadmap, and taking it away from being a jazzy consumer bank. Knox’s next steps remain vague, but Freeman’s letter said: “Ricky will focus on developing his other activities in fintech and the wider financial services arena… Ricky leaves Tandem with our good wishes, and we would like to offer our thanks for his hard work and dedication in building Tandem.” Before Tandem, Knox founded Azimo and Small World — both remittance businesses. Tandem has been contacted for comment. Related Articles Wagestream raises $60m to take on the US — and usurp banks By Amy O'Brien Click here to read more Scammers are coming for your startup — here’s how not to fall into a trap Sponsored by Mitek Click here to read more Europe’s fintechs field frenzied demand for Coinbase shares By Ryan Weeks Click here to read more An Icelandic startup has been acquired by a billion-dollar blockchain giant By Isabel Woodford Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?