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Home Fintech

South Africa’s digital bank TymeBank raises $109 million, plans Asian market expansion

Tech Gist Africa by Tech Gist Africa
02/24/2021
in Fintech, News, Startups, The Big 5, Venture Capital
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Tauriq-Keraan-CEO-TymeBank Tech Gist AFrica

Tauriq-Keraan-CEO-TymeBank Tech Gist AFrica

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A $109 million investment from investors based in the UK and the Philippines has been announced by South African digital bank TymeBank.

The funds will be used to boost its growth and enable commercial expansion.

Moreover, this investment will come in two stages.

Although, TymeBank has already received $34 million.

While it will receive $75 million in the next 12 to 15 months.

Also, Asian markets are now more open to digital banking services, fueling the digital connectivity boom and the involvement of technology companies in providing low-cost financing services.

In order to extend into Singapore, TymeBank will partner with JG Summit.

Likewise, One of the Philippines’ biggest conglomerates is JG Summit.

Over its two years of service, TymeBank has so far attracted over 2.8 million customers across South Africa.

Read More on Tech Gist Africa;

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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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