# TymeBank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tymebank

- Industry: Financial Services
- Headquarters: Johannesburg, South Africa
- Website: www.tymebank.co.za/
- Total disclosed funding: $502M
- Latest round: Series D (Dec 17, 2024)
- Investors on record: 9

## About

Tyme Bank Limited, based in South Africa, is a digital bank that offers accessible financial solutions through innovative banking products, catering to personal and business needs, while enhancing financial inclusivity.Founded in 2012, Tyme Bank operates as a digital bank providing financial services primarily within South Africa. The company's headquarters is located in Johannesburg, South Africa. In its journey, Tyme Bank has successfully completed a total of 11 funding deals, with the most recent being a Series D round on December 17, 2024, where it raised USD 250.00 mn led by Nu Pagamentos S.A. The current leadership team includes Coenraad Jonker, Sandile Shabalala, and Tauriq Keraan.TymeBank offers a variety of innovative banking solutions for personal and business use, including the EveryDay account, a free bank account with a Visa debit card, and MoreTyme, which lets customers pay for goods in three interest-free installments. Its PayShap service facilitates instant mobile payments, ensuring quick transactions both within TymeBank and with other banks, thus addressing the need for secure financial transfers in the South African market.In 2023, TymeBank reported a revenue of USD 69.77 mn, with an EBITDA of USD -46.16 mn for the same year. The bank generates its revenue primarily from transaction fees associated with its services, enhancing efficiency in money transfers and everyday banking activities for its diverse clientele.Tyme Bank plans to utilize the USD 250.00 mn raised in its Series D funding to expand its operations beyond its current Latin American markets. The company is focused on launching new products and services aimed at improving customer engagement. Specific target markets for expansion have yet to be detailed, but the funding will support strategic growth initiatives to enhance its presence and offerings.

## Funding rounds

- Series D, Dec 17, 2024, $250M — British International Investment, M&G, JG Summit Holdings Inc., Nu Pagamentos S.A., Tencent Investment
- Series C, May 23, 2023, $78M — Tencent Investment, Apis Partners, Blue Earth Capital, Norrsken22
- Series B, Dec 7, 2021, $69M — Tencent Investment, CDC Group
- Series B, Feb 23, 2021, $105M — Apis Partners, JG Summit Holdings Inc.

## Investors

- Apis Partners (https://capitalatlas.ai/funds/apis-partners) — Series B, Series C
- JG Summit Holdings Inc. — Series B, Series D
- Tencent Investment — Series B, Series C, Series D
- CDC Group — Series B
- Blue Earth Capital (https://capitalatlas.ai/funds/blue-earth-capital) — Series C
- Norrsken22 (https://capitalatlas.ai/funds/norrsken22) — Series C
- British International Investment — Series D
- M&G (https://capitalatlas.ai/funds/m-g) — Series D
- Nu Pagamentos S.A. — Series D