Tyme Group, a South African-born fintech operating in the African country and the Philippines, has secured $250 million in a Series D round, pushing its valuation to $1.5 billion. The funding was led by Nu Holdings (which owns NuBank), Latin America’s most valuable fintech, which invested $150 million for a 10% stake. M&G Catalyst Fund chipped in $50 million while existing shareholders provided the remaining $50 million.
Founded in 2019, the Singapore-based Tyme Group operates a hybrid digital banking model that combines online banking with physical service touchpoints. 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—launched in 2022 in partnership with local conglomerate Gokongwei Group—marked its entry into Asia. The company now serves 15 million customers and plans to expand further into Vietnam and Indonesia next year.
Tyme remains majority-owned by Patrice Motsepe’s African Rainbow Capital (ARC), which retains a 40% stake in the fintech. Last year, the fintech raised $77.8 million in a pre-Series C round, backed by Tencent, Blue Earth Capital, and Norrsken22.
The latest funding, which takes Tyme’s total raise to over $400 million, marks a notable recovery in investor interest in fintechs after a slowdown caused by rising global interest rates. Tyme joins Nigeria’s Moniepoint as one of the African fintechs to achieve unicorn status this year.
Clearly, Nubank’s investment in Tyme Group aligns with its broader strategy to diversify geographically and tap into the growth potential of emerging markets outside Latin America, albeit not organically. While the largest digital banking platform outside Asia has cemented itself as a dominant player in Brazil, Mexico, and Colombia, with over 100 million customers, its core markets are becoming increasingly competitive and saturated with the likes of Neon and C6 gaining market share.
Expanding into Asia and Africa—regions where digital financial services are still underpenetrated—offers Nubank a chance to replicate its playbook in markets with similar dynamics: large unbanked populations, growing smartphone adoption, and rising demand for accessible financial products.
This isn’t Nubank’s first move outside its home turf. In 2021, the company invested in the Indian neobank Jupiter.
“Nubank revolutionized financial services and having them as a shareholder will help build rapport to our model, execution and expansion plans, both financially and through business counsel,” said Coen Jonker, chairman and co-founder of Tyme. “We are focused on improving the financial lives of millions of people in our region, and we are energized by this round of investments to keep pushing forward.”
Tyme, which offers checking and savings accounts with debit cards and credit via buy now, pay later, has raised over $400 million in customer deposits and extended over $600 million in finance to small businesses across South Africa and the Phillippines.
