Tyme Group, the parent company of GoTyme Bank, has reached unicorn status following a successful USD250 million Series D funding round. The exercise was led by Nubank, the world’s most successful digital bank, which invested USD150 million in Tyme Group. With the investment, Tyme Group’s post-money valuation now stands at USD1.5 billion.
The investment will bolster Tyme Group’s operations in the Philippines, where GoTyme Bank is rapidly growing, and in South Africa, where TymeBank operates. The Tyme Group, which also has a strong presence in Africa and Southeast Asia, is now eyeing further expansion into Vietnam and Indonesia.
Nubank’s expertise in digital banking, particularly in lending solutions, is expected to support Tyme’s growth across these new markets. Tyme Group’s founder and CEO, Coen Jonker, expressed enthusiasm about the partnership, stating it would help accelerate the company’s strategic initiatives and market expansion.
GoTyme Bank, which has already earned top rankings for customer experience in independent surveys, is poised to benefit from this new partnership as it strives to become the largest retail bank in the Philippines. The deal also highlights a growing trend of cross-border fintech investments in Southeast Asia, with Tyme Group now positioned as a leader in digital banking for both Africa and Southeast Asia.
