Brazilian neobank Nubank led Tyme Group‘s $250m Series D with a $150m investment – valuing Tyme at $1.5bn.
São Paulo based Nubank is one of the world’s largest financial services platforms with over 110 million customers.
Tyme Group, headquartered in Singapore, is a digital banking platform serving consumers and SMEs in emerging markets – it will use the funds to expand into Vietnam and Indonesia and to support its plans to go public by 2028.
“Since the beginning of Nubank, we have believed that the future of financial services globally is of digitally-native companies. We have met dozens of teams across different geographies, and we think that Tyme Group is extremely well-positioned to be one of the digital bank leaders in Africa and Southeast Asia,” said David Vélez, founder and CEO, of Nubank.
This is not Nubank’s first investment outside of Latin America. In August 2021, Nubank co-led a $45 million Series B funding round for Indian neobank Jupiter.
“Nubank transformed financial services in Brazil. We are excited by the value that Nubank’s thought partnership and advice can bring to Tyme particularly in areas such as data analytics, credit risk management, product development and marketing – levers we believe are key to achieving leadership in our markets,” said Coen Jonker, Co-Founder and CEO, Tyme Group.
Having completed its latest investment round, Tyme Group has now also firmly achieved unicorn status after securing a total of US$250 million in funding for a total valuation of US$1.5bn.
