Roehl Niño Bautista · · 1 min readDigibank Tyme nets $70m more in series B money from Tencent, others
Tyme, a digital banking group with operations in Singapore, Vietnam, and South Africa, has raised an additional US$70 million in series B funding from Tencent and CDC Group.
Photo credit: Tyme
In February, Tyme raised US$110 million from Apis Growth Fund II and JG Summit Holdings. The latest funds takes its series B fundraise to a total of US$180 million.
The Singapore-headquartered startup has partnered with Gokongwei Group-led JG Summit Holdings in the Philippines to create digital bank GoTyme, which recently earned a digital bank license from the country’s central bank.
“Tyme’s global footprint now includes a product development and engineering hub in Ho Chi Minh City, Vietnam, and banking businesses in South Africa and the Philippines,” said co-founder Coen Jonker.
The fresh funds will finance TymeBank in South Africa, which has acquired 4 million customers in 32 months, and GoTyme in the Philippines, which is expected to launch in mid-2022.
Editing by Collin Furtado and Eileen C. Ang
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