Brazilian fintech Nubank’s $150mn investment to give South Africa’s Tyme unicorn status

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Financial Times 12h ago

Brazilian fintech Nubank’s $150mn investment to give South Africa’s Tyme unicorn status - Financial Times

Quick Summary:

Nubank’s acquisition of a 10 per cent stake in Tyme is part of a $250mn series D capital raise in which M&G Catalyst, part of UK asset manager M&G, is investing $50mn.

It launched GoTyme, its Philippines bank, last year and is planning to open a digital bank in Vietnam, where it already employs 300 technology staff, next year.

Tyme originally focused on low-income South Africans in townships before it pivoted to acquiring better-off customers in South Africa and south-east Asia.