Tyme Group Raises $250M in Series D, Valuation Hits $1.5B

Tyme Group, a South African fintech, has successfully raised $250 million in its Series D funding round, bringing its valuation to $1.5 billion.

The round was led by Nu Holdings, the parent company of Latin America’s leading fintech, NuBank, which invested $150 million for a 10% stake. M&G Catalyst Fund contributed $50 million, with the remaining $50 million coming from existing shareholders.

Founded in 2019, Tyme operates a hybrid digital banking model that blends online banking with physical service touchpoints. Headquartered in Singapore, the company focuses on growing digital banks in emerging markets by offering services such as checking and savings accounts with debit cards, buy now, pay later (BNPL) credit, and cash advances. Tyme currently serves 15 million customers across its two key markets: South Africa and the Philippines.

Its South African brand, TymeBank, has attracted 10 million users and has been a key driver of the company’s growth. Tyme’s Philippine brand, GoTyme, launched in 2022 in partnership with the local Gokongwei Group, now serves 5 million customers.

Tyme also claims to have raised over $400 million in customer deposits and extended more than $600 million in loans to small businesses across both countries. The fintech is looking to expand further into Vietnam and Indonesia in the coming year.

Tyme is also eyeing a potential IPO in New York by 2028, with plans for a secondary listing in South Africa.

For Nubank, the investment in Tyme fits with its broader strategy to diversify geographically and tap into emerging markets beyond Latin America. While Nubank has firmly established itself as a dominant player in Brazil, Mexico, and Colombia, with over 100 million customers, it faces increasing competition from local rivals such as Neon and C6 Bank.