- Tyme Group gains $250M investment
- Nubank backs African fintech
- Digital banking expansion targets emerging markets successfully
Fintech Powerhouse Secures Major Investment
Tyme Group, a South African digital banking innovator, has secured a massive $250 million Series D funding round, catapulting its valuation to $1.5 billion.
Led by Nu Holdings, the investment marks a significant milestone for the Singaporean-headquartered fintech operating across South Africa and the Philippines.
Global Players Bet Big on Emerging Markets
The round saw Nu Holdings investing $150 million for a 10% stake, complemented by $50 million from M&G Catalyst Fund and $50 million from existing shareholders.
Founded in 2019, Tyme has rapidly expanded its hybrid digital banking model, boasting 15 million customers and positioning itself for aggressive growth in emerging markets.
Strategic Expansion on the Horizon
Eyeing an ambitious expansion strategy, Tyme plans to enter Vietnam and Indonesia by next year. The company has already raised over $400 million in customer deposits and extended $600 million in small business financing.
Nubank’s CEO David Vélez emphasized their belief in digitally-native financial services, viewing Tyme Group critical for digital banking leadership in Africa and Southeast Asia.
