Nubank, Latin America's largest fintech, has invested $150 million in Tyme Group, the Singapore-based parent company of TymeBank, for a 10% stake. This investment, which also includes contributions from M&G Catalyst Fund and existing shareholders, will support Tyme Group's expansion into new markets and the development of its digital banking services. Tyme Group currently serves 15 million customers across South Africa and the Philippines and plans to open its next operation in Vietnam.
The digital bank’s parent company, Time Group, now serves a reported 15 million customers across South Africa and the Philippines.
“Since the beginning of Nubank, we have believed that the future of financial services globally is of digitally-native companies. We have met dozens of teams across different geographies, and we think that Tyme Group is extremely well-positioned to be one of the digital bank leaders in Africa and South East Asia.
FINTECH INVESTMENT TYMEGROUP NUBANK DIGITALBANKING
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