News Formal

TymeBank’s finalises R1.5bn acquisition of Retail Capital

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Ireland News News

The Patrice Motsepe-backed lender has received all the necessary regulatory approvals to conclude its acquisition of 100% of Retail Capital

TymeBank, which is set to reach the 6-million-customer mark in December, has finalised the acquisition of SME funder Retail Capital, which will become the rapidly growing digital lender’s new business banking offering.

The Patrice Motsepe-backed bank said in a statement on Tuesday that it had received all the necessary regulatory approvals to conclude its acquisition of 100% of Retail Capital, a fintech company that provides funding to small and medium-sized enterprises . The R1.5bn deal will result in Retail Capital CEO Karl Westvig joining the Tyme Group’s executive committee while also being responsible for TymeBank’s business banking and lending offerings...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TymeBank completes R1.5-billion Retail Capital acquisitionTymeBank has announced the conclusion of its deal to acquire fintech company Retail Capital.
Source: mybroadband - 🏆 11. / 67 Read more »

TymeBank eyes 6 million customers as it makes big push into business bankingTymeBank has completed its acquisition of Retail Capital.
Source: BusinessTechSA - 🏆 24. / 61 Read more »