Tyme, an SA digital bank raises $77.8m to fuel global expansion

by Digital Brainiacs
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Tyme, a South African-born digital bank with 7 million customers, has raised $77.8m to further operations in South Africa and the Philippines as well as for future expansion in Southeast Asia.

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Norrsken22 and Blue Earth Capital joined the firm’s pre-Series C capital raise bringing to a total of US$77.8m, with Tencent increasing its shareholding to become Tyme’s third largest shareholder.

According to Coen Jonker, Co-founder of Tyme and TymeBank CEO: “We are delighted to welcome  Norrsken22 and Blue Earth Capital to the group of high-calibre investors who have bought into Tyme’s  growth story and its mission to democratise financial services by lowering cost and other barriers to  access.”  

Tyme has continually pushed forward the evolution of banking. Tyme was the first bank in South Africa to be operated fully off a cloud-based infrastructure network, and now makes it possible to open a fully regulated bank account in less than five minutes, which can…

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