Tandem: The Modern Couples’ App For Managing Finances Together And Separately


Commingling finances can be a daunting task for couples who choose to share their lives, especially in an era where many people cohabit before marriage, if they decide to marry at all. Michelle Winterfield, a former private equity investor, faced this challenge when she moved in with her partner. The traditional options of opening a joint account and sharing credit cards didn’t quite fit the bill for what she termed “the modern couple.” This led her and co-founder Daniel Couvreur, a former investment banker, to create Tandem, a fintech app designed to address the financial needs of couples, whether they choose to manage their finances together or separately. Launched in August 2023, Tandem aims to assist couples in navigating their financial milestones, from planning and saving to spending.

Key Takeaway

Tandem, a fintech app designed for modern couples, offers a solution for managing finances together and separately. With its user-centric approach and innovative features, Tandem aims to streamline financial management for couples, providing a seamless and automated experience.

How Tandem Works

Setting up Tandem is a quick process, with one partner inviting the other to join. Both partners link their credit and/or debit cards, allowing Tandem to pull in transactions. However, each partner only sees what the other chooses to share. The app enables couples to set up automated money transfers into a shared expense pot, allocating funds for specific expenses such as rent or subscriptions. With over 25,000 couples currently using Tandem, the app has managed $60 million in expenses to date. Tandem provides the experience of a joint account without the need to actually have one, streamlining shared expenses and allowing for easy balance settlements.

Investor Interest and Funding

Tandem has attracted investor attention, securing $3.7 million in funding, with Corazon Capital leading the round. Individual investors and executives from companies such as OkCupid, Match Group, and Tinder also participated in the funding. Sam Yagan, co-founder and managing director of Corazon Capital, emphasized the strong consumer satisfaction with Tandem, highlighting the demand for innovative solutions tailored to the needs of modern couples.

What Should Banking Look Like for Modern Couples?

Tandem is not the only player addressing the financial needs of couples. Several companies, including Plenty, Honeydue, Zeta, Ivella, and Ensemble, are also focusing on providing tailored financial services for couples. Tandem’s approach, however, sets it apart by prioritizing an automated and consumer-centric experience, with features such as “Goals” being inspired by user feedback. The “Goals” feature, which recently went live, allows couples to plan and work towards shared purchases, fostering financial collaboration and transparency.

Future Plans and Pricing

Tandem plans to utilize the new funding to launch the “Goals” feature, expand its marketing efforts, and grow its team. An Android app is also in the pipeline. The platform will transition to an annual pricing model of $10 per couple per month, or $12 per couple per month for monthly payments, as it continues to evolve and cater to the needs of modern couples.

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