Tyme Group, GoTyme Bank’s major shareholder, welcomes strategic investor Nubank, the world’s most successful digital bank, to fuel the next phase of growth in the Philippines and the rest of Southeast Asia.
GoTyme Bank’s major shareholder Tyme Group, the multi-country digital banking group headquartered in Singapore with 15 million customers across Africa and Southeast Asia, announced that Nubank led its Series D capital raise. Nu is a New York Stock Exchange listed digital bank with 110 million customers and a market capitalization of over USD57B.
Having completed its latest investment round, Tyme Group achieved unicorn status after securing a total of US$250 million in new money leading to a post-money valuation of US$1.5 billion. Tyme’s oversubscribed Series D capital raise was led by Nu, which invested US$150 million, with M&G’s Catalyst Fund subscribing for US$50 million.
Coen Jonker, Tyme Group founder and CEO, shares his thoughts on the strategic partnership, “Nubank revolutionized financial services, and having them as a shareholder will help accelerate the development of our strategic capabilities, execution, and expansion plans in Southeast Asia, through their investment of financial resources and counsel. This is a moment of great significance for Tyme Group.
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