South Africa’s TymeBank Receives USD 110 Mn Investment

South African fintech company TymeBank has raised USD 110 Mn capital from Apis Partners through its private equity fund, Apis Growth Fund II, and the Gokongwei Family. TymeBank also partnered with JG Summit and plans to use part of the investment to launch a digital bank for the Philippines.

Tymebank is the first digital bank in South Africa to operate fully as a cloud-based infrastructure network. The bank offers services in transactional banking and savings through its MoneyTransfer solutions, GoalSave, and TymeCoach App which gives tips on better money decisions.