Brazilian digital bank Nubank (NU, Financial) has invested $150 million in Tyme Group to support its expansion into Southeast Asia and potential public listing by 2028. Tyme Group, headquartered in Singapore, serves 15 million customers across South Africa and the Philippines. The investment is part of a $250 million Series D funding round, with contributions from M&G Catalyst Fund and existing shareholders.
Following this investment, Tyme Group, backed by Tencent, has achieved a valuation of $1.5 billion, earning unicorn status. TymeBank South Africa CEO Karl Westvig emphasized the funding will bolster their growth strategy, aiming to become one of the top three retail banks in South Africa within three years.
