TymeBank lands $109M from UK and Philippines investors
TymeBank, a South African digital bank, announced today that it has secured an R1.6 billion (~$109 million) investment from new investors in the U.K. and Philippines, TechCrunch reports. This investment will be used to bolster TymeBank’s growth and drive its commercial expansion across the country.
However, this investment will come in two tranches. According to the company, R500 million ($34 million) has already been invested in the business, while the rest — R1.1 billion ($75 million) — will be invested over the next 12 to 15 months.