Singapore-based digital banking group Tyme has raised US$250 million in its series D funding round, increasing its valuation to US$1.5 billion and securing its unicorn status.

Its Tuesday’s announcement said the funding was “the largest fintech raise this year in Southeast Asia.”

The funding includes Nubank, a major digital financial platform, as a new strategic investor.

Nubank led the investment with US$150 million, while M&G’s Catalyst contributed US$50 million. Existing shareholders added an additional US$50 million.

Tyme’s investors also include African Rainbow Capital, Tencent, and the Gokongwei Group.

The funds will aid Tyme in scaling operations in Southeast Asia and enhancing digital banking services that cater to emerging markets.

The company serves 15 million customers in South Africa and the Philippines, while it seeks to expand into new markets like Vietnam and Indonesia.

Recent Tyme developments