Tyme Achieves Unicorn Status with $250 Million Investment Led by Nubank
Deal News | Dec 17, 2024 | Apis Partners LLP
Tyme Group, a digital banking group headquartered in Singapore and operating across South Africa and Southeast Asia, has announced a successful capital raise of USD 250 million, reaching a valuation of USD 1.5 billion and achieving unicorn status. This Series D funding round was led by Nubank, investing USD 150 million, along with significant contributions from M&G's Catalyst and existing shareholders. Nubank's participation underscores a strategic partnership aimed at bolstering Tyme's presence in Southeast Asia, providing expertise in data analytics, credit risk management, and product development. Tyme plans to expand into Vietnam and Indonesia, supported by existing operations in South Africa and the Philippines. The investment also aims to drive financial inclusion in underserved markets. Significant stakeholders supporting Tyme Group include African Rainbow Capital, The Ethos AI Fund, and Apis Growth Fund II, among others. Legal and advisory services were provided by Webber Wentzel, Rothschild & Co, Avista Advisory Partners, and Ekta Partners. Nubank, with over 110 million customers, brings transformative insight from its successful operations in Brazil, Mexico, and Colombia, contributing to Tyme’s vision of leadership in digital banking across Africa and Southeast Asia.
Sectors
- Financial Services
- Venture Capital and Private Equity
- Technology
Geography
- South-East Asia – Tyme Group, based in Singapore, is expanding its operations in Southeast Asia, specifically targeting Vietnam and Indonesia.
- Africa – Tyme Group's significant customer base in South Africa indicates relevance to the African market.
- Brazil – Nubank is a prominent financial services platform in Brazil and is central to the investment and strategic partnership with Tyme.
Industry
- Financial Services – The article centers around Tyme Group, a digital banking firm, and its capital raise led by Nubank, a major player in digital financial services.
- Venture Capital and Private Equity – The involvement of venture capital firms and private equity investors such as Apis Growth Fund II and M&G Investments in the capital-raising process highlights the relevance of this industry.
- Technology – As Tyme Group and Nubank are digital banking platforms, leveraging technology for financial services places this article within the technology sector.
Financials
- 250,000,000 USD – This is the total capital raised by Tyme Group in its Series D funding round.
- 1,500,000,000 USD – Tyme Group’s valuation post-Series D funding.
- 150,000,000 USD – The amount invested by Nubank during Tyme’s Series D funding round.
- 50,000,000 USD – The amount invested by M&G's Catalyst in Tyme’s Series D funding round.
- 50,000,000 USD – Amount collectively invested by existing shareholders during Tyme's Series D funding.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tyme Group | Target Company | Company | A digital banking group focused on emerging markets, headquartered in Singapore. |
| Nubank | Bidding Company | Company | One of the world's largest digital financial services platforms, based in Brazil, leading Tyme’s latest capital raise. |
| M&G's Catalyst | Investor | Company | Part of M&G Investments, involved in Tyme's Series D funding round. |
| African Rainbow Capital | Existing Shareholder | Company | A major shareholder supporting Tyme Group's expansion strategy. |
| Webber Wentzel | Legal Advisor | Company | Provided legal advice for the transaction. |
| Rothschild & Co | Advisory | Company | Provided advisory services for the capital raise. |