According to the Zhitong Finance APP, Brazil's digital bank Nubank (NU.US) announced on Monday that it has invested $0.15 billion in the digital bank Tyme Group. This funding will help Tyme Group enter the Southeast Asian market and go public in 2028. Based in Singapore, Tyme Group has 15 million customers in South Africa and the Philippines.

Nubank stated in a press release that the total amount of Tyme Group's Series D funding is $0.25 billion, which includes $50 million subscribed by M&G Catalyst Fund and $50 million subscribed by existing shareholders.

After completing the latest round of investment, the total valuation of Tyme Group, supported by Tencent, reached $1.5 billion, achieving unicorn status. A unicorn refers to a startup valued at over $1 billion.

Karl Westvig, CEO of TymeBank South Africa, stated: "This funding will drive our Global Strategy, enabling us to achieve our established goal of becoming one of the top three retail banks in South Africa within the next three years."

He added: "Additionally, collaborating with Nubank has enhanced the company's credibility and market visibility, combined with a vast global investor network such as GIC and Berkshire Hathaway, facilitating the group to achieve its public listing by 2028."

Coen Jonker, co-founder and CEO of Tyme Group, stated in June this year that the company is seeking to go public in New York and is likely to conduct a secondary listing on the Johannesburg Stock Exchange.

Tyme Group operates in South Africa through TymeBank, which was founded in 2019 and has 10 million customers. In October 2022, Tyme Group partnered with Gokongwei Group to launch the second digital bank, GoTyme, in the Philippines.

The group is currently preparing to expand into Vietnam and India.

The largest Shareholder of Tyme Group is African billionaire Patrice Motsepe, who controls African Rainbow Capital.