Nubank Announces Investment in Tyme Group, a Digital Bank With Operations in South Africa and the Philippines
Nu Holdings Ltd. (NU)
Company Research
Source: Business Wire
Nubank leads series D funding round with US$ 150M investment; Tyme operates in South Africa and the Philippines with 15 million customers SÃO PAULO--(BUSINESS WIRE)--Nubank, one of the world's largest digital financial services platforms, announces today an investment of US$150 million in Tyme Group as the lead of their series D funding round. The total investment round amounted to US$250 million, with M&G Catalyst Fund subscribing for US$50 million and existing shareholders with further US$50 million. Tyme Group is one of the fastest-growing digital banks globally, with 15 million customers and operations in South Africa and the Philippines. With this investment, Nubank becomes a minority shareholder in Tyme Group."Since the beginning of Nubank, we have believed that the future of financial services globally is of digitally-native companies. We have met dozens of teams across different geographies, and we think that Tyme Group is extremely well-positioned to be one of the digital
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