Nubank leads $250M round in African digital bank Tyme at $1.5B valuation [TechCrunch]
Nu Holdings Ltd. (NU)
Company Research
Source: TechCrunch
The funding was led by Nu Holdings (which owns NuBank), Latin America's most valuable fintech, which invested $150 million for a 10% stake. M&G Catalyst Fund chipped in $50 million while existing shareholders provided the remaining $50 million. Founded in 2019, the Singapore-based Tyme Group operates a hybrid digital banking model that combines online banking with physical service touchpoints. The company focuses on building and scaling digital banks in emerging markets; its South African brand, TymeBank, has been a key driver of its growth, while GoTyme in the Philippines—launched in 2022 in partnership with local conglomerate Gokongwei Group—marked its entry into Asia. The company now serves 15 million customers and plans to expand further into Vietnam next year. Tyme remains majority-owned by Patrice Motsepe's African Rainbow Capital (ARC), which retains a 40% stake in the fintech. Last year, the fintech raised $77.8 million in a pre-Series C round, backed by Tencent, Blue Eart
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News
- Why Warren Buffett Stock Nu Holdings Dived by 13% This Week [Yahoo! Finance]Yahoo! Finance
- The year is coming to a close, but startup news keeps rolling in [TechCrunch]TechCrunch
- Better Fintech Stock: SoFi Technologies vs. Nu Holdings [Yahoo! Finance]Yahoo! Finance
- Tyme Valued at $1.5 Billion With Backing From Fellow Fintech Nu [Yahoo! Finance Canada]Yahoo! Finance Canada
- Tyme Valued at $1.5 Billion With Backing From Fellow Fintech Nu [Yahoo! Finance]Yahoo! Finance
NU
Earnings
- 11/13/24 - Beat
NU
Sec Filings
- 11/26/24 - Form 144
- 11/25/24 - Form 6-K
- 11/15/24 - Form 144
- NU's page on the SEC website