TymeBank

TymeBank is one of the world’s fastest growing digital banks that offers a transactional bank account with zero or low monthly fees and a savings product.

TymeBank is the first bank in South Africa to be operated fully off a cloud-based infrastructure network.

TymeBank was founded in 2012 and is headquartered in Johannesburg, Gauteng, South Africa. Tyme’s global footprint now includes a business development and engineering hub in Ho Chi Minh city, Vietnam and banking businesses in South Africa and the Philippines.

 

TymeBank has continued to expand its offering, having recently launched its buy-now pay-later product, MoreTyme; a number of value-added services including the ability of customers to be paid their salaries a day early; and various off-balance products such as insurance.

 

TymeBank has acquired four million customers in 32 months, with noticeable acceleration in its acquisition rate. The hybrid model of digital banking and physical service has made banking accessible to South Africans across the economic spectrum.

 

TymeBank has well established partnerships with national retailers Pick n Pay and Boxer as well as the largest church in South Africa, the Zion Christian Church.  It also recently partnered with leading fashion retailer TFG, The Foschini Group.

 

TymeBank is backed by Tencent, CDC Group, Apis Partners, JG Summit Holdings, African Rainbow Capital, Ethos Private Equity, and others. The company completed a $180M Series B financing on Dec 07, 2021. This brings TymeBank's total funding to $239M to date.

 

 

  • Year founded: 2012
  • Funding Info: $239M over 4 Rounds (Latest Funding Type: Series B)
  • Yearly Revenue: NA
  • Employee Size: 501-1,000
  • Business Valuation: NA
  • City/Town: Johannesburg
  • State: Gauteng
  • Country: South Africa
Related businesses