Living together might make combining finances daunting. Since individuals marry later in life, they often move in with someone before getting married.
Michelle Winterfield had this difficulty when she moved home with her lover years before marriage. The customary discussions included creating a joint account and getting credit cards.
“It’s hard to build a life as an unmarried couple,” Winterfield told Eltrys. Couples marrying later in life are reluctant to merge financially, but they desire the benefits. 
After finding no app for “the modern couple,” Wall Street private equity investor Winterfield and former investment banker Daniel Couvreur decided to create one two years ago.
Tandem, a fintech app, helps couples reach their first financial milestones and evolves with them via planning, saving, and spending. The subscription app debuted in August 2023.
We were weary of using Venmo to split rent, groceries, and other costs with our partners, and a combined debit card or account didn’t appeal to us—who wants to give up credit card points or cash back and deal with creating a joint account and pooling finances? Couvreur wrote two years ago on LinkedIn.
How it works
Tandem sets up users in minutes. The user logs in and invites a partner. Each links a credit or debit card. Winterfield said tandems attract deals, but each pair only sees what the other wants.
Couples can automate money transfers into a joint spending bucket for rent or Netflix. Over 25,000 couples use Tandem, which has handled $60 million in spending.
Winterfield: “It gives you the experience of a joint account without actually having one. The back-and-forth is eliminated by having everything you wish to discuss in one place. You can also pay balances when you want.”
Tandem raised $3.7 million from investors who liked the idea. Corazon Capital led the round, which included OkCupid, Match Group, and Tinder executives and private investors.
“I have rarely seen consumers love a product so much, underscoring the need for innovative solutions for the modern couple,” said Corazon Capital co-founder and managing director Sam Yagan via email. As a relationship specialist, I’ve always felt a product to help couples manage their finances was needed. Tandem is a reliable, trustworthy, and contemporary platform that helps new and current couples grow financially and emotionally.
Relationship goals
Tandem is not alone in addressing this issue. Couples-focused financial services firms include Plenty, Honeydue, Zeta, Ivella, and Ensemble for divorced co-parents.
Tandem’s competitors provide debit cards to split expenditures, which Winterfield said may be a huge step for young people starting out financially.
“We wanted to build this with the consumer in mind as opposed to offering banking products,” she added. “We wanted to create a much more automated experience that solves this pain point first for our core demographic.”
Most Tandem users inspired the next set of features, “Goals,” which launched this week. Both partners collaborate on a shared buying plan in the Goals feature.
You decide how much each will contribute each month to purchase new furnishings. Each individual may use websites or applications to find things to add to their objectives, so everyone is on the same page and no one feels alone.
The additional funds will implement this functionality, market it, and increase the staff. In addition, an Android app is planned.
Tandem started with a “choose your own price” model. The site will launch with a $10 per pair, per month yearly price, or $12 per couple, per month monthly pricing, with additional functionality.
Winterfield said they want to create something that connects easily and allows you to share everything automatically without needing to sign up for a joint card. Tandem lets you preserve your freedom while developing a life together.
