Reseda Group, the service organisation arm of Michigan State University Federal Credit Union (MSUFCU), has acquired Tandem, an Ann Arbor-based fintech that helps couples manage shared expenses. The financial terms of the acquisition have not been shared.
In a statement on the purchase, Reseda says it will use Tandem to build out an “end-to-end family banking ecosystem” able to serve members across different life stages, from individual accounts through to multi-generational household financial management.
Launched in August 2023 by co-founders Daniel Couvreur and Michelle Winterfield, Tandem has carved out a niche serving Gen Z and millennial couples who want to split expenses without using traditional joint accounts. The platform currently supports over 25,000 active couples managing approximately $60 million in shared expenses annually.
The acquisition builds on an existing relationship between the two organisations. Reseda first invested in Tandem in June 2023 and has been working with the fintech to develop pilot programmes targeting college-age consumers through MSUFCU’s network.
Tandem is expected to continue operating from its Ann Arbor base as Reseda looks to expand the platform’s capabilities to a wider target audience. As part of the acquisition, Couvreur and Winterfield will join the group as vice presidents.
Source: https://www.fintechfutures.com/
