Nubank Invests $250 Million in Tyme Group

Tyme Group, a fintech founded in 2019, has raised $250 million in a Series D funding round led by Nubank, valuing the company at $1.5 billion. Nubank's significant investment of $150 million will aid Tyme's expansion efforts in Africa and Southeast Asia, particularly benefiting its operations in South Africa and the Philippines. Tyme has quickly grown to serve 15 million customers through its hybrid banking model, combining digital services with physical touchpoints. The funding round also included contributions from M&G Catalyst Fund and existing shareholders. Nubank's CEO expressed confidence in Tyme's potential to lead in the digital banking sector across emerging markets, while Tyme's CEO highlighted the strategic benefits of Nubank's involvement. This investment reflects a renewed investor interest in fintech, signaling recovery in the sector following a slowdown due to rising interest rates.