27four is pleased to announce its partnership with Founders and Management of Tyme Group to participate in Tyme Group’s recent Series D funding round. Tyme’s capital raise has propelled the digital banking group to unicorn status.
This strategic investment aligns with 27four’s commitment to supporting innovative fintech companies and their visionary leadership teams.
Investment Highlights
Tyme Group has successfully raised US$250 million, valuing the business at US$1.5 billion
The oversubscribed Series D round was led by Nubank, one of the world’s largest digital financial services platforms.
27four alongside the original founders team and key management, joined existing and new investors in this landmark raise, the largest raise this year on the African continent
Strategic Partnership
The Series D investment from Nubank and M&G’s Catalyst, alongside other notable investors, positions Tyme Group for accelerated growth in Southeast Asia. This funding will fuel Tyme’s expansion plans, particularly in Vietnam and Indonesia, building on its established operations in South Africa and the Philippines. Tyme currently serves over 10m customers in South Africa and over 5m in the Philippines.
This investment in Tyme Group showcases 27four’s ability to structure complex deals that benefit both promising companies and its investment clients.
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.”
Rory Ord, Head of Private Markets at 27four Investment Managers, commented: “We are excited to partner with the incredible Founders and Management of Tyme Group. Tyme Group has demonstrated impressive growth and we believe in their vision to revolutionize digital banking in emerging markets. This investment allows us to support the founders and management team while providing our clients exposure to a high-potential late-stage fintech opportunity. Tyme s commitment to financial inclusion aligns perfectly with our social impact objectives”.
About Tyme Group
Tyme is a multi-country digital banking group focused on serving consumers and SMEs in emerging markets. Headquartered in Singapore, with a technology and product development hub in Vietnam, Tyme designs, builds, and operates digital banks, with a particular expertise in emerging markets. Tyme recognises the unique challenges of banking in emerging markets, and leverages technology innovatively, through a high tech-high touch approach, to meet the needs of emerging market customers. Following TymeBank in South Africa, Tyme launched its second digital bank, GoTyme, in the Philippines, in partnership with the Gokongwei Group, in October 2022. Across the Group, Tyme now serves over 15 million customers.
For more information, please visit www.tyme.com.
About 27four
27four Investment Managers is a South African asset management firm with a specialization in alternative investments, with portfolios across private equity, infrastructure and venture capital. The company is committed to driving diversity and financial inclusion in the financial services sector and identifying unique investment opportunities for its clients.
For media queries on the transaction and interview requests:
Rachel Freeman, Tyme Group, Singapore: Rachel.Freeman@tyme.com
For more information, please contact:
Rory Ord, 27four, South Africa: rory@27four.com