TymeBank announces $77.8 million pre-Series C round

by Digital Brainiacs
0 comment 1 minutes read

According to TechCrunch, South African neobank TymeBank has raised $77.8 million in a pre-Series C round led by African-focused growth stage fund, Norrsken22 and Swiss global impact investment firm, Blue Earth Capital.

TymeBank, majority-owned by billionaire Patrice Motsepe’s African Rainbow Capital, claims to have hit 7 million customers in South Africa alone. It also claims to be raking in revenues of over $100 million and onboarding over 300,000 new customers monthly from its South African and Philippine operations.

“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 be done online or from a TymeBank kiosk. It also takes nine seconds to send money to any cellphone in South Africa using TymeBank’s SendMoney app,” the neobank said in a…

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