Tyme Completes $180M Series B with Tencent to Scale Digital Banking
Tyme, a digital banking group operating in emerging markets, completed a $180 million Series B capital raise, with $70 million from Tencent and CDC Group announced on December 7, 2021. This built upon $110 million raised earlier in 2021, bringing the full round to $180 million. The investment will be used to scale Tyme's digital banking infrastructure, focusing on mass-market financial services delivery and enhanced risk management capabilities.
Tyme operates TymeBank in South Africa, which serves millions of customers with low-cost digital banking products. Tencent's involvement brings strategic value given its experience scaling digital financial services in Asia. CDC Group's participation signals development finance support for financial inclusion.
The funding positions Tyme to expand its banking-as-a-service infrastructure model to additional emerging market geographies.
- Signals major investor interest in digital banking infrastructure for underserved emerging markets
- Tencent's backing could accelerate Tyme's expansion into Asian markets with embedded finance capabilities