Digital bank Tyme raises US$250 million, led by Brazilian peer Nubank

DIGITAL bank Tyme has raised US$250 million in a Series D funding round led by Brazilian digital bank Nubank. The latest round of funding values Tyme at US$1.5 billion, catapulting it into unicorn status.

Other investors in the round include M&G Investments, the asset management arm of M&G; Tencent; Filipino conglomerate Gokongwei Group; and Blue Earth.

“That is a significant amount of money for a business our size to ensure that we have the resources needed to expand,” Coen Jonker, co-founder and chief executive officer of Tyme, told The Business Times.