Tandem Bank acquires money-sharing app Loop Money

Tandem Bank has made its first acquisition of 2023, AltFi can exclusively reveal, with the takeover of the recently-launched money-sharing app Loop Money.

Loop is a social network aimed at helping friends and family to lend and borrow money with each other, and using open banking to enable seamless payments.

The app starts with a bill-splitting concept similar to Splitwise, but then develops it with the addition of an ‘overdraft’ that you can access by inviting your contacts to lend you the money.

Read more: AltFi