Tyme Group raises $250M Series D led by Nu Holdings at $1.5B valuation

In December 2024, Tyme Group completed an oversubscribed $250 million Series D round, achieving unicorn status with a $1.5 billion post-money valuation. The round was led by Nu Holdings (parent of Nubank), which invested $150 million for a 10% minority stake. M&G Catalyst Fund contributed $50 million, with the balance from existing shareholders including African Rainbow Capital (which retains ~40% ownership).

The capital will support geographic expansion into Vietnam and Indonesia, technology platform enhancements, lending growth, and preparation for a potential IPO by 2028. Tyme aims to become a top-three retail bank in South Africa by 2027. The deal marks Nubank's strategic entry into African and Southeast Asian digital banking and brings Tyme's total funding to approximately $600 million.

Tyme Group designs, builds, and operates digital banks for underserved populations in emerging markets. It runs TymeBank in South Africa (launched 2019) and GoTyme Bank in the Philippines (launched 2022 in partnership with Gokongwei Group). The company uses a hybrid 'phygital' model combining digital platforms with physical touchpoints such as kiosks in retail stores and bank ambassadors.

It serves over 15 million customers across its markets, with TymeBank having more than 10 million users in South Africa and GoTyme approximately 5 million in the Philippines. The group has a global headquarters in Singapore and a development hub in Vietnam. It has raised customer deposits exceeding $400 million and extended over $600 million in financing, primarily to small businesses. Plans include further expansion into Vietnam and Indonesia, with a target IPO by 2028.