Warren Buffettjust gained greater exposure to the burgeoning digital bank sector in Africa and South America.

What Happened:Nu Holdings(NYSE:NU) — backed by Buffett'sBerkshire Hathaway(NYSE:BRK)(NYSE:BRK) — led a new funding round for Singapore-basedTyme Group.

Tyme specializes in building digital banks in emerging markets. Nu Holdings, which owns Brazil-basedNubank, invested $150 million for a 10% stake. The funding is part of a $250 million Series D round that values Tyme at $1.5 billion, TechCrunch reported on Monday.

Since launching in 2019, Tyme has raised $600 million. The startup is backed byAfrican Rainbow Capital, which owns...