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- Tyme Group
Tyme Group Revenue, Valuation, Funding & Investors
Tyme Group is valued at $1.5B as of December 2024, a 8.9x multiple on its last reported $168M revenue.
Last Tyme Group valuation
$1.5B
Series D · Dec 2024
Last Tyme Group funding round
$250M
Series D · Dec 2024
Tyme Group revenue
$168M
Series D · Dec 2024
Key investors in Tyme Group
African Rainbow Capital
Tencent
British International Investment
Apis Partners
Blue Earth Capital
Norrsken22
About Tyme Group
Tyme Group is a Johannesburg-based digital banking group operating embedded finance platforms in South Africa, the Philippines, and Southeast Asia. The company delivers mobile-first banking services to consumers and small businesses through partnerships with retail chains like Pick n Pay and Robinsons.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Usage-based
Revenue
$168M (Dec 2024)
Valuation
$1.5B (Dec 2024)
Tyme Group Valuation
Tyme Group is currently valued at $1.5B, based on its Series D in December 2024.
The $250M round was led by Nubank, with participation from Norrsken22, Apis Growth Fund, African Rainbow Capital, EPE Capital Partners, Tencent and 5 other investors.
Tyme Group's valuation has grown 1.6x from $965M at its Series C in May 2023 to $1.5B in December 2024, across 2 priced rounds.
Tyme Group valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2024 | Series D | $1.5B | 8.9x |
| May 2023 | Series C | $965M | 5.7x |
Tyme Group Revenue
Tyme Group's latest recorded revenue is $168M, as of its Series D in December 2024. At a $1.5B valuation, that implies a 8.9x revenue multiple.
Revenue moved from $168M in May 2023 to $168M in December 2024, while the revenue multiple moved from 5.7x to 8.9x.
Tyme Group revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2024 | $168M | $1.5B | 8.9x | Series D |
| May 2023 | $168M | $965M | 5.7x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Tyme Group Funding History
Tyme Group has raised a total of $565M across 6 funding rounds.
Tyme Group's first fundraising round was a $14M Series A in June 2019. The most recent completed round was a $250M Series D in December 2024.
Tyme Group funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2024 | Series D | Nubank (lead); Norrsken22; Apis Growth Fund; African Rainbow Capital; EPE Capital Partners; Tencent; M&G Investments; British International Investment; Lavender Hill Capital Partners; Gokongwei Group; Blue Earth Capital | $250M | $1.5B | Tyme Group, a Singapore-headquartered multi-country digital banking company, operates TymeBank in South Africa and GoTyme in the Philippines, serving 15 million customers across both markets. TymeBank has 10 million users in South Africa, while GoTyme, launched in 2022 with Gokongwei Group, has 5 million users. The company has raised over $400 million in customer deposits and extended more than $600 million in financing to small businesses. On December 17, 2024, Tyme Group closed a $250 million oversubscribed Series D funding round led by Nubank, which invested $150 million for a 10% stake, achieving a post-money valuation of $1.5 billion and unicorn status. M&G Catalyst Fund contributed $50 million, with existing investors including African Rainbow Capital (40% owner), Apis Growth Fund II, Blue Earth Capital, British International Investment, EPE Capital Partners, Gokongwei Group, Lavender Hill Capital Partners, Norrsken22, and Tencent providing the remaining $50 million. This brings Tyme's total capital raised to nearly $600 million, marking the largest fintech raise in Southeast Asia that year. The funds will fuel expansion into Vietnam and Indonesia, alongside ambitions to become a top three retail bank in South Africa within three years. Tyme plans a potential IPO by 2028, possibly in New York with a secondary listing in Johannesburg. Nubank's involvement provides strategic expertise in credit risk management, data analytics, product development, and marketing to accelerate growth in emerging markets. |
| May 2023 | Series C | Blue Earth Capital (lead); Norrsken22 (lead); Apis Partners; African Rainbow Capital; Tencent; JG Summit Holdings; British International Investment; Ethos Private Equity | $78M | $965M | Tyme Group is a Singapore-based global digital banking group operating in emerging markets, with flagship TymeBank in South Africa launched in 2019 and GoTyme in the Philippines. It employs a high-tech/high-touch hybrid model combining digital channels with physical kiosks in retail partnerships to offer affordable banking at about 10% of incumbents' cost structures. TymeBank achieved profitability in December 2023, becoming the world's fastest profitable standalone digital bank, with 8.5 million customers and 30% growth in its SME lending portfolio that year. The group secured a $77.8 million pre-Series C raise in 2023 from investors including African Rainbow Capital, Tencent, British International Investment, Apis Growth Fund II, and Norrsken22, reflecting strong investor confidence amid rapid growth. Tyme reported an annualised revenue run rate of SG$215 million in 2023, positioning it in the top 5% of profitable digital banks globally per a Simon-Kucher study. GoTyme in the Philippines rapidly grew to 2.3 million customers in just over a year, surpassing TymeBank's pace, with 1.1 million MSMEs using its merchant cash advance product. Tyme Group reached over 10.8 million customers globally by early 2024. The company's low customer acquisition cost of around $4.50, enabled by AI-powered analytics, supports efficient scaling compared to peers. Expansion plans target becoming a top three retail bank in each market, with further growth into Vietnam and Indonesia. Investor support continued post-2023, culminating in a $250 million Series D in December 2024 led by Nubank at a $1.5 billion valuation, adding to prior raises and funding international expansion toward a potential 2028 IPO. By mid-2025, Tyme served 17.5 million retail customers, adding 450,000 monthly. TymeBank alone hit a $95 million (R1.8 billion) annual revenue run rate by late 2023, financing over 50,000 SMEs. |
| Dec 2021 | Series B | Tencent; British International Investment; Endeavor Catalyst; Bossa Invest | $70M | - | - |
| Feb 2021 | Series B | Apis Partners; JG Summit Holdings | $108M | - | Tyme Group, headquartered in Singapore, operates TymeBank, a South African digital bank targeting the mass market with innovative financial services. In February 2021, TymeBank secured R1.6 billion (approximately $108-110 million) from Apis Growth Fund II, managed by Apis Partners, and JG Summit Holdings, a major Philippine conglomerate owned by the Gokongwei family. This formed the first tranche of Tyme's Series B round, with R500 million invested initially and R1.1 billion committed over the next 12-15 months. African Rainbow Capital remained the majority shareholder alongside existing investors. The investment aimed to accelerate TymeBank's growth amid competitive South African banking landscape and global COVID-19 uncertainties. At the time, TymeBank had 2.8 million customers, projecting 3 million by March 2021 end. Funds supported expansion of financial services using Tyme's digital infrastructure, risk management improvements, and international ventures, including a digital bank agreement in the Philippines leveraging JG Summit's expertise and retail network. Apis Partners brought fintech private equity experience in emerging markets payments, microfinance, and platforms, while emphasizing sustainability and impact. The round later expanded to $180 million total Series B in December 2021 with additional $70 million from Tencent and CDC Group, funding TymeBank growth, GoTyme launch in Philippines, and potential ASEAN expansion. |
| Sep 2020 | Undisclosed stage | African Rainbow Capital (lead); Serendipity Capital | $45M | - | Tyme Group, operating digital banking subsidiaries like TymeBank in South Africa, completed a Series B capital raise around late 2020, securing $70 million (R1.1 billion) with investments from Tencent and UK-based CDC Group, following earlier introductions of JG Summit from the Philippines and Apis Growth Fund II from the UK. African Rainbow Capital (ARC) highlighted this as significantly de-risking Tyme Group's funding needs as TymeBank aimed for break-even by end-2022 and pursued international expansion. The round attracted significant foreign investment, positioning TymeBank as a leading South African digital bank backed by Patrice Motsepe. Operationally, by October 2021, TymeBank reached four million customers, accelerating monthly acquisitions from over 100,000 to about 140,000 per month. Strategic partnerships included rollout of kiosks in over 600 The Foschini Group (TFG) stores, and new products like the Buy-Now-Pay-Later MoreTyme. Despite economic pressures, management planned to meet business objectives, though revenue was slightly behind targets. ARC, Tyme's key shareholder, reported portfolio updates noting TymeBank's progress amid COVID challenges, with its low-cost, online model well-suited for growth. Later rounds like the 2024 Series D achieved unicorn status at $1.5B. |
| Jun 2019 | Series A | African Rainbow Capital (lead); Ethos Private Equity (lead); Fireball Capital | $14M | - | - |
Who has invested in Tyme Group?
18 investors have backed Tyme Group across its funding rounds, including African Rainbow Capital, Tencent, British International Investment, Apis Partners, Blue Earth Capital and Norrsken22.
Lead investors include Nubank, Blue Earth Capital, Norrsken22, African Rainbow Capital and Ethos Private Equity.
Tyme Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2019 | ||
| 3 | Participant | Dec 2021 | ||
| 3 | Participant | Dec 2021 | ||
| 2 | Lead | May 2023 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Lead | May 2023 | ||
| 2 | Lead | Jun 2019 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Participant | Dec 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTyme Group Competitors
Tyme Group competitors include listed companies like Green Dot and Klarna, and private ones like Wave Mobile Money, Stori, DANA and CloudWalk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.7B | - | ||
| Private | $300M | - | $1.2B | 4.0x | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $2.1B | - | ||
| Publicly listed | $2.1B | ($12M) | $751M | 0.3x | ||
| Publicly listed | $3.5B | $551M | $5.3B | 1.3x |
Tyme Group Public Comps
Tyme Group is still privately-owned, but its public comps include Atlanticus, Wealthfront, Kbank, Pagaya, PicPay, Stanbic IBTC Holdings, EZCORP, Zip, Upbound and Arzan Financial Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $403M | - | 18.4x | 2.7x | - | - | |||
| $365M | ($93M) | 4.3x | 4.2x | (17.0x) | 9.9x | |||
| $461M | - | 3.5x | 4.2x | - | - | |||
| $1.3B | $33M | 1.1x | 1.0x | 42.6x | 3.2x | |||
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $669M | - | 2.7x | 2.0x | - | - | |||
| $1.3B | $188M | 1.9x | 1.5x | 13.0x | 8.9x | |||
| $951M | $296M | 3.8x | 3.6x | 12.2x | 18.3x | |||
This data is available for Pro users. Sign up to see all Tyme Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tyme Group
| When was Tyme Group founded? | Tyme Group was founded in 2018. |
| Where is Tyme Group headquartered? | Tyme Group is headquartered in Johannesburg, South Africa. |
| Is Tyme Group publicly listed? | No, Tyme Group is a private, VC-backed company. |
| What is Tyme Group's valuation? | Tyme Group was last valued at $1.5B in its Series D in December 2024. |
| How much funding has Tyme Group raised? | Tyme Group has raised $565M across 6 funding rounds. |
| What was Tyme Group's last funding round? | Tyme Group's last funding round was a $250M Series D in December 2024, led by Nubank. |
| Who are Tyme Group's investors? | Tyme Group's investors include African Rainbow Capital, Tencent, British International Investment, Norrsken22, Apis Partners, JG Summit Holdings, Blue Earth Capital, Ethos Private Equity, Fireball Capital, Apis Growth Fund and 8 others. |
| What is Tyme Group's revenue? | Tyme Group's latest recorded revenue is $168M (December 2024). |
| What is Tyme Group's revenue multiple? | Tyme Group's latest valuation implies a 8.9x revenue multiple ($1.5B valuation on $168M of revenue). |
| Which companies are comparable to Tyme Group? | Companies comparable to Tyme Group include Wave Mobile Money, Stori, DANA, CloudWalk, Green Dot and Klarna. |
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