Nubank Leads $250M Round in African Digital Bank Tyme at $1.5B Value

Tyme Group, a South African-based fintech company operating in the African country and the Philippines, raised $250 million in a Series D round, bringing its valuation to $1.5 billion. The funding was led by Nu Holdings (owner of NuBank), the most valuable fintech company in Latin America, which invested $150 million for a 10% stake. The M&G Catalyst Fund raised $50 million, with the remaining $50 million provided by existing shareholders.

Founded in 2019, Singapore-based Tyme Group operates a hybrid digital banking model that combines online banking with physical service touchpoints. Currently serving 15 million customers, the company focuses on building and scaling digital banks in emerging markets. Its South African brand TymeBank has been a key driver of its growth, while GoTyme in the Philippines marked its entry into Asia in 2022 by partnering with local conglomerate Gokongwei Group. The company plans to expand further in Vietnam next year.

Tyme remains owned by Patrice Motsepe’s African Rainbow Capital (ARC), which retains a 40% stake in the fintech. Last year, fintech Tencent raised $77.8 million in a pre-series C round backed by Blue Earth Capital and Norrsken22.

The latest round of funding highlights the resurgence of investor appetite for fintech after a slowdown caused by rising global interest rates. Tyme joins Nigeria’s Moniepoint as African fintechs to reach unicorn status this year.