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.