Digital bank Tyme raises US$250 million, led by Brazilian peer Nubank
The funds raised will be used to expand the business further in Vietnam and enter Indonesia
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
